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Bandon Secures Refi for El Monte IOS Site
Bandon Capital Advisors recently secured $20 million for the refinancing of a seven-acre site with industrial outdoor storage (IOS) and a 27,350-square-foot industrial building in El Monte. Bandon arranged the loan with a life company lender on behalf of a private investor.
The transaction highlights the growing popularity of IOS assets, particularly in strong industrial markets like Los Angeles, said Bryan Kenny, co-founder and president at Bandon Capital Advisors.
“Demand for IOS properties is increasing as investors seek assets that are both protected from downside risk, and offer the potential for rising value in the current uncertain economic climate,” said Kenny. “IOS has been commanding considerable attention since the explosion of e-commerce during the pandemic. With logistics companies seeking last-mile delivery solutions, demand is increasing for industrial properties with excess land.”
Leased to a Fortune 500 company, the asset is located directly across the street from the tenant’s key distribution facility.
- ◦Financing
