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ORANGE COUNTY NEWS
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Investor Lands $15.5 Mil Loan on North OC Industrial Asset

8/28/24

A private investor has locked in a $15.5 mil refi loan on Fullerton Brea Business Park, a 111k sf multi-tenant industrial park in north Orange County, following the recent all-cash purchase of the asset. The property, located at 4010-4080 North Palm St in Fullerton, at Imperial Hwy, consists of eight industrial buildings.

The asset recently underwent a value-add business plan. Upgrades to the biz park included adding space to the property to further increase rents and increase value.

Andy Bratt, Peter Welsh and Sean Kuang with Gantry secured the loan through a life company lender. The five-year, fixed rate loan includes full-term interest-only payments and prepayment flexibility.

“This is an experienced sponsor with a sophisticated investment strategy that includes strategic all-cash acquisitions,” noted Bratt. “This was an opportunity for us to return a relevant portion of an all-cash purchase with a fixed rate loan from one of our premier life company correspondents. After reviewing more than 60 options, we arrived at the most attractive loan for the asset, including interest only terms to maximize cash flows and prepayment flexibility. Sponsorship now has fresh capital and flexibility to pursue the next phase of their business plan, both property specific and at a portfolio level.”




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