JLL Capital Markets has arranged the disposition of a Riverside light industrial portfolio totaling 238,473 square feet on behalf of Oxford Properties. The assignment covered a four-building collection of light industrial assets and was led by senior managing director Patrick Nally, senior director Ryan Spradling and associate Shae Vomund, who represented the seller.
The portfolio was acquired by Sierra Ridge Capital, which secured equity backing from Pacific Properties Group of Los Angeles. Following the trade, JLL Capital Markets’ Debt Advisory group arranged acquisition financing for the new ownership, working with a correspondent life insurance company lender.
The financing package consisted of a $25 million acquisition loan. The Debt Advisory team was led by senior managing director Jeff Sause, with analyst support from Danny Ryan and Jenny Barger. The mandate focused on placing long-term, institutional debt on the portfolio through the life insurance lender relationship.
The industrial collection features two distinct property configurations within the Inland Empire market. At 12000 Magnolia Ave., the portfolio includes a 132,800-square-foot multi-tenant light industrial facility that was completed in 2018. The building is reported to be fully leased and offers 30-foot clear heights, positioning it as a relatively modern asset in the local industrial inventory.
The portfolio also includes Hunter Business Park at 1110-1130 Palmyrita Ave. Built in 1990, this component totals 105,673 square feet across 14 suites and features 18-foot clear heights. Together, the Magnolia Avenue facility and Hunter Business Park comprise the 238,473-square-foot light industrial portfolio that changed hands in this transaction.
Oxford Properties exited its position in the Riverside industrial assets through this sale, while Sierra Ridge Capital expanded its holdings in the Inland Empire industrial sector with new institutional equity support. JLL Capital Markets advised on both the investment sale and the debt placement, coordinating with the correspondent life insurance company to structure the acquisition loan for the buyer.
