X-Caliber Closes $52M Financing for Central Valley Project
X-Caliber Capital, a direct commercial real estate lender, has closed a $52 million transaction for the construction of Origo Cold Storage, a 254,000-square-foot cold storage almond facility in Madera, CA. X-Caliber Rural Capital (XRC) provided $35 million through the USDA’s Food Supply Chain Program and CastleGreen contributed $17 million of C-PACE financing.
“We are pleased to provide long-term financing for a much-needed facility to the robust almond growing industry,” said XRC’s Jordan Blanchard. “The combination of the two loans provide a competitive lending solution that supports energy efficiency, the creation of permanent jobs and economic growth in the Madera community.”
The Origo Cold Storage facility is designed to save the borrower $3.7 million over the lifetime of improvements by cutting electricity usage, saving over 11,000 gallons of water and reducing CO2 emissions. The project is expected to be completed by April of 2023, creating 10 new full-time jobs.
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.