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2/13/17
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In a recent transaction involving a portfolio of industrial properties in California, HFF arranged a joint venture equity partnership and represented the partnership in its acquisition of the six-property portfolio, and in its recapitalization of an additional industrial building. The combined transaction totaled $108.75 mil and covered 372.1k sf of properties in both southern and northern California.
The joint venture equity partnership, between Dedeaux Properties LLC and a financial services firm, purchased the six industrial assets. In addition, Dedeaux Properties recapitalized a 111.3k sf, state-of-the-art cold storage warehouse located at 4000 Noakes St in Commerce.
Five buildings and a 2.1-acre lot occupied by Kia Motors were included in the sale. The portfolio comprises: 3420, 3425, 3435 and 3501 East Vernon (Vernon); 2041 Factory Street (Richmond) and 110 Olinder Court (San Jose). All of the buildings involved in the sale and recapitalization are either food processing and/or cold storage distribution facilities leased to CLW Foods, Elite Flower, HelloFresh, Pro Portion Foods, Sun Basket and Juicero, Inc.
HFF’s Anthony Brent and Ryan Martin negotiated the transaction for the buyers.
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