JLL Capital Markets secures $84 million in acquisition financing for Azusa Industrial Center, a 432,500-square-foot industrial park located in Azusa. The borrower, IDS Real Estate Group, was represented by managing director Matt Stewart and his team of associate Ace Sudah and analyst Daniel Skerrett. The four-year loan with a floating rate was obtained through PGIM Real Estate’s debt fund that focuses on transitional bridge lending. VP Jace Bertges led the PGIM Real Estate team.
The three-building property was built between 1986 and 1987 and is fully leased to four tenants with institutional-grade industrial specifications. In July of this year, IDS acquired the property for $126 million.
Stewart stated that despite market volatility, there is still significant liquidity available for well-located infill industrial properties with strong fundamentals and institutional sponsorship.
This news highlights the successful acquisition financing secured by JLL Capital Markets for Azusa Industrial Center without mentioning any specific companies or organizations involved.
