FONTANA, CA—Xebec Realty Partners has secured a $23 million forward commitment for the development of the Catawba Distribution Center in Fontana, CA. The 310,550-square-foot industrial facility sits on a 13.8-acre site, which is fully entitled for the development. Construction is scheduled for completion in August 2015.

According to Anthony Brent, senior managing director at HFF, who secured the transaction on behalf of Xebec Realty, the commitment will cover the total project cost including carry and leasing costs, tenant improvements and cost to stabilization. “The buyer will close land cash and fund construction with a loan,” he tells HFF managing director Ryan Martin worked alongside Brent to secure the funds. The terms of the transaction are undisclosed.

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