CapRock Partners secures $38.5 million in financing for the acquisition of a Class A warehouse in Chandler, Arizona. The property is located within the newly delivered Chandler Airport Business Park and offers 318,683 square feet of space for lease.
The financing transaction was facilitated by a team from Cushman & Wakefield Equity, Debt & Structured Finance led by Rob Rubano and including Brian Share, Max Schafer, Lars Weston, and Billy Coyle.
Funds managed by BlackRock’s US Real Estate Debt team provided a floating-rate bridge loan for the project.
Situated on approximately 20 acres at the intersection of Queen Creek Road and Cooper Road, Chandler Airport Business Park features four buildings with clear heights ranging from 28 to 30 feet. It also offers ample parking with 428 auto stalls available. In addition to this acquisition in Chandler , CapRock recently purchased Longbow Industrial Center in Mesa using a $25.6 million floating-rate loan procured yesterday .
This news was originally reported on Connect CRE .
