3650 REIT announced that it has originated a $91 million loan to complete the construction of Gillespie Field iPark, a state-of-the-art, approximately 380,000-square-foot industrial facility at 1756 Weld Blvd. in El Cajon, Calif., in eastern San Diego County; and a loan of more than $54 million for The Ranch at Model Colony, a 90-plus percent pre-leased, approximately 200,000-square-foot retail development at the southwest corner of Ontario Ranch Rd. and Hamner Ave. in Ontario, Calif. Both loans carry terms of 24 months and are originated from 3650’s Bridge and Event Driven lending platform.
The Gillespie loan is provided to sponsor Chesnut Properties, a California-based real estate investment firm with more than 30 years of experience building a variety of asset classes, including modern industrial, complex life science, large-scale office and other industry-leading sustainable projects. Chesnut Properties is now also the master developer for The Think Campus at Millenia O
