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3/04/20
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San Diego-based Westcore Properties has raised $150 mil in equity money through an institutional investor. Westcore, an industrial real estate firm, will use the facility along with third party debt to increase their buying capacity to over $400 mil.
Mark McGovern of CBRE structured and closed the equity facility. According to McGovern, Westcore had recently ended its long-term relationship with a capital provider and was interested in forming a programmatic joint venture in order to acquire industrial assets nationwide.
“Westcore is a very successful and accomplished owner and developer of industrial projects and will benefit from a capital provider who is motivated to efficiently acquire a dynamic portfolio,” added McGovern.
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