Property Enterprises I LP is borrowing the money throughHellerFinancial and South Charles Investment Corp. AmericanPropertyEnterprises, an affiliate of the general partner for thenew owner, willmanage the properties and begin a three-year,$2.3-millionrehabilitation program.
The biggest single complex in the portfolio is Oceanside's166,681-sf Rancho del OroBusiness Park. The other five aremultitenant parks in the Miramar area: the 64,180-sf Cabot Plaza;the 49,600-sf Cabot Industrial Park; the 113,279-sf ForemostBusiness Park; the 70,098-sfBlack Mountain Plaza, and the 95,071-sfBlack Mountain Commerce Park.
Mortgage banker Dwyer-Curlett is based in Los Angeles. Its LAand San Diego offices arranged the financing.
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