Available industrial assets? Check. Quickly moves off the Southern California market? Also, check. PCCP, LLC, is providing two loans, totaling $125 million, to Lift Partners for the acquisition, renovation and stabilization of 16 West Coast infill industrial properties.

• The assets, according to a news release, include infills properties located here:
  San Francisco Bay Area (Hayward, Burlingame, San Jose)
• Los Angeles and Compton
• Puget Sound (Kent, Renton, Woodinville, Seattle and Redmond)

Details of note for this deal include 16 individual sellers, with the portfolio totaling 511,322 square feet – but it also includes substantial leasable outdoor yard space, per the release.

Located in core infill industrial markets with low vacancy rates, strong tenant demand, and limited new supply, the properties primarily consist of 1960s- and 1970s-vintage warehouse buildings. 

“PCCP’s loans funded the property acquisitions and includes an allocation of approximately $18 million for future capital improvements and leasing costs,” said Dorian Farhang, Senior Vice President with PCCP.