Azusa Industrial Scores $84M Post-Close Acquisition Debt

JLL Capital Markets arranged $84 million in post-close acquisition financing for Azusa Industrial Center, a three-building industrial park totaling 432,500 square feet located in Azusa. Managing director Matt Stewart, associate Ace Sudah and analyst Daniel Skerrett worked on behalf of the borrower, IDS Real Estate Group, to secure the four-year, floating-rate loan through PGIM Real Estate’s debt fund focused on transitional bridge lending. The PGIM Real Estate team was led by VP Jace Bertges.

Built between 1986 and 1987, this 432,500-square-foot, three-building industrial property is 100% leased to four tenants and features institutional-grade industrial specs. IDS acquired it for $126 million this past July.

“Despite continued market volatility, we are finding there is ample liquidity for well-located infill industrial properties with strong fundamentals and institutional sponsorship,” said Stewart.

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