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Slatt Capital Arranges Acquisition Financing on Ontario Industrial Site
Slatt Capital, Inc. arranged acquisition financing for a 60-acre industrial plot located at the southeast corner of Euclid Avenue and Shafer in Ontario. The deal marks the inaugural financing executed by Slatt with one of its correspondent life company lenders. It was overseen by Slatt Capital principal Antonio Hachem and his team.
The project’s backer, RCCD, Inc., has more than 35 years of expertise in land development, large-scale real estate financing, and homebuilding, currently focusing on land entitlement. The original plan for the site involved proceeding with recently approved entitlements to construct an industrial business park.
However, the softening of capital markets and the industrial sector created less favorable conditions, and much of the existing truck parking in the area lacks proper permits and zoning. These circumstances prompted RCCD to temporarily halt vertical construction and instead obtain a temporary use permit to run the entire property as an industrial outdoor storage facility with 1,863 parking spaces.
- ◦Development
- ◦Financing
