HFF Arranges Debt and Equity for Acquisition Industrial Facility

ONTARIO, CA-HFF has arranged nearly $27 million in debt and joint venture equity for a 406,714-square-foot industrial facility here.

HFF worked on behalf of the sponsor, Cohen Asset Management, to arrange joint venture equity through a domestic life insurance company, and to secure $13.75 million of permanent fixed-rate debt through a national life insurance company.  Loan and equity proceeds were used to acquire the property via a sale leaseback.

The property, 5491 East Francis, is situated in an “A” location of the Inland Empire West in the City of Ontario just minutes from the intersection of the Interstate 10 and Interstate 15 freeways.  The property is fully leased to a single-tenant.

The HFF team representing the borrower was led by senior managing director Paul Brindley and senior real estate analyst Jeff Sause.

“We have had a long standing relationship with both Cohen and their joint venture partner and were confident that a strong relationship would be formed between the two,” said Brindley.  “Our efforts to secure the joint venture equity and debt for this asset are part of our growing emphasis on industrial product both in Southern California and nationally.”

HFF recently added the team of Brett Tremaine, Ryan Martin and Anthony Brent from BlackRidge Real Estate Group to the Los Angeles and Orange County offices to focus on industrial capital markets transactions primarily in the western United States.