Slatt Capital, Inc. successfully secured acquisition financing for a 60-acre industrial property situated at the southeast corner of Euclid Avenue and Shafer in Ontario. This transaction marks the first time that Slatt has worked with one of its correspondent life company lenders, under the leadership of principal Antonio Hachem and his team.
The project is backed by RCCD, Inc., a company with over 35 years of experience in land development, large-scale real estate financing, and homebuilding. Currently focused on land entitlements, RCCD initially planned to use recently approved entitlements to build an industrial business park on this site.
However, due to unfavorable conditions caused by softening capital markets and the industrial sector’s downturn as well as inadequate permits and zoning for existing truck parking in the area – RCCD decided to temporarily pause vertical construction plans. Instead they obtained a temporary use permit allowing them to utilize all 1,863 parking spaces on site for an outdoor storage facility catering specifically towards industrial needs.
