Dekel Arranges $8M Equity Financing for Poway IOS Facility
Dekel Capital has arranged $8 million in equity capital for 5-Ronin’s purchase of a 2.8-acre land parcel in Poway, CA. The fenced lot with a standalone building will be used as an Industrial Outdoor Storage (IOS) facility, an in-demand asset in the region, according to 5-Ronin.
“Due to the tight deadline, we advised raising all equity, as the current state of the capital markets would have made it difficult to secure the debt on time,” said Shlomi Ronen, Dekel Managing Principal, after the firm successfully sourced the equity within two weeks. “We were able to leverage our relationships to ensure that the sponsor was able to complete the transaction.”
Located in Poway Business Park, the property’s proximity to the I-15 Freeway affords quick access to all of San Diego County. 5-Ronin says the unique parcel will allow prospective tenants to operate out of a building while utilizing the excess land.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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