FULLERTON, CA-Bay West Equities of San Francisco has acquired a 209,250-sf warehouse facility on a rail-served parcel of 9.25 acres from an affiliate of TA Associates Realty of Boston for $21.9 million. The private investment firm's new property, which it acquired as part of a 1031 exchange, includes three buildings on the parcel at 700 S. Raymond Ave.The new Bay West property is 100% leased on a triple-net basis to Atlanta-based AmeriCold Logistics Corp. AmeriCold is one of the country's largest providers of temperature-controlled food distribution services with more than 500 million cubic feet of refrigerated capacity in more than 100 facilities across the nation.TA Associates was represented by Darla Longo, Barbara Emmons, Art Rasmussen and Stephen Batcheller of CB Richard Ellis. Bay West Equities, an affiliate of Bay West Properties, represented itself in the purchase, which closed at a cap rate of 8.1%.The buyer financed the purchase by paying cash to a new first mortgage of $16.2 million at a 5.77% fixed interest in favor of Citigroup Global Markets Realty Corp. Tom McKnew of ICap Realty Advisers represented Bay West Equities as mortgage banker for the financing placement.Jerry Lynch, CEO of Bay West, calls the purchase a "strategic buy of a well-located, high-quality cold-storage property in one of the nation's top industrial markets." The AmeriCold warehouse deal brings Bay West Equities acquisitions to nearly $120 million since the portfolio-building plan started five years ago.The acquisition adds to a Bay West portfolio that includes industrial properties, mobile home parks, condominium properties, hotels and multifamily properties with a market value of nearly $240 million. The firm has a current acquisitions goal of $50 million for 2006, with expectations for similar targets over the next several years, with plans to place approximately $10 million in 1031 equity in commercial property, primarily triple-net leased assets.