(To read more on the industrial market, click here.)
SAN FRANCISCO-Subsidiaries of locally based industrial REIT AMBProperty Corp. have entered into a loan agreement for a$305-million financing. The financing is secured by 60 buildings,including most of the Alvarado Business Center in San Leandro.
The lenders are Prudential Insurance Co. of America andPrudential Mortgage Capital Co. Approximately $160 million of theloan will be securitized and sold on the open market. The remainderwill be held in the lenders' general accounts.
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