70,088-SF Industrial Site Secures $6.9-Mil Loan

SAN JUAN CAPISTRANO, CA-A 70,088-sf, five-building industrial complex in San Juan Capistrano is securing a $6.9-million loan for an unidentified borrower.

Cohen Financial negotiated the financing package for the holding, located at the intersection of Calle Perfecto and Via de Anza. Heller Financial. Terms provided the financing for the three-year, non-recourse loan with carve-outs that include an 85% LTV ratio and pricing based on the London Interbank Offering Bank.

The overall industrial vacancy rate in San Juan Capistrano stood at 4.3% at the end of the third quarter, according to a recently published report by Cushman & Wakefield Inc. The area has experienced a positive net absorption of 108,660 sf during the first three quarters of 2001, the report says.

Chicago-based Cohen Financial is the nation’s third largest originator of commercial real estate loans. The company has offices in nine major US markets and a market capitalization valued in excess of $100 million.