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BMH Closes $25M Construction Loan for Perris Truck Terminal
Buchanan Mortgage Holdings, LLC (BMH), an affiliate of Buchanan Street Partners, has provided a non-recourse, 81% LTC, $25 million construction loan for the development of a 53,000-square-foot, Class-A truck terminal on 10.5 acres in Perris, CA. The sponsor is a privately-owned firm that has specialized in entitling, developing and operating industrial, logistics, and cold storage space for over 50 years.
“Buchanan prides itself on its ability to generate attractive risk-adjusted returns for its investors throughout market cycles, including periods of volatility similar to what we are experiencing now,” said BMH’s Scott Magoffin. “This financing is an excellent example of the value that BMH provides to our borrowers as well as to our investors.”
The terminal will offer 26’ clear heights, 99 dock-high doors, 161 trailer stalls and 5,000 square feet of office space. The Inland Empire location offers access to the Ports of LA and Long Beach as well as major population centers.
- ◦Financing
