Clarion Partners LLC has provided a $10-million mezzanine loan subordinate to a $70-million senior loan for an acquisition financing package collateralized by a Class A, 600,000-square-foot industrial building located in Riverside. The property is 100% leased and serves as the headquarters of a third party logistics provider. It features 36’ clear ceiling heights, 84 dock high doors, 148’ to 180’ secured concrete truck court depths, ESFR fire sprinklers LED light fixtures and 98 trailer parking stalls.
Managing Director Drew Fung commented on the investment opportunity stating “We believe this is compelling based on Clarion Partners’ firsthand knowledge of the Inland Empire industrial market…Strategically we believe investments in Class A industrial product in distribution markets with strong fundamentals have potential for durable cash flow and value over time.”
