JLL Arranges $69M in Financing for LA County Industrial Portfolio
JLL Capital Markets has arranged $69.1 million in post-close acquisition financing for Walnut Business Park, a 33-building, 335,000-square-foot light industrial portfolio in Walnut, CA. JLL represented the borrower, IDS Real Estate Group to secure the loan with MetLife Investment Management.
“Despite macro headwinds, demands for core industrial real estate remains strong. We worked with MetLife Investment Management to structure a highly bespoke financing solution that achieved all the sponsor’s objectives,” said JLL’s Matt Stewart who led the firm’s Debt Advisory team along with Chris Jaffe.
Situated on over 22 acres at Valley Boulevard and South Lemon Avenue, Walnut Business Park is located in the infill San Gabriel Valley submarket of Los Angeles, and is adjacent to the Highway 60/57 interchange, with connectivity to Interstates 5 and 10. The property is also just 35 miles from LAX and the Ports of Los Angeles and Long Beach.