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CIP Recaps Trio of Inland Empire Assets for Nearly $59M
JLL arranged $58.6 million in first lien financing for three industrial/office properties totaling 609,898 square feet in the Inland Empire. The borrower was CIP Real Estate, which secured a seven-year, fixed-rate loan through a national life insurance company.
The portfolio comprises the 17-building College Business Park in Upland, CA; the 12-building Milliken Business Center in Ontario, CA; and the five-building Summit Business Center in Riverside, CA. Overall, the portfolio is 95% leased to over 300 separate tenants.
The JLL Capital Markets team representing the borrower was led by Kevin MacKenzie, Brian Torp and Peter Thompson.
CIP Real Estate retained JLL Securities as part of a broader strategic objective. The recapitalization included the procurement of up to $300 million of equity growth capital creating nearly $900 million of buying power over the next three to four years. The capital raise was led by Jeff Hawkins and Derek Landry.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing


