BLT Enterprises has secured $11.5 million for the refinancing of a 3.11-acre covered-land industrial site with space for Industrial Outdoor Storage (IOS) in Costa Mesa, Calif., and secured $5 million in financing for two single-tenant industrial assets in Burbank and Pico Rivera, Calif. Bandon Capital Advisors arranged the financing.
The 3.11 acre site, which includes a 12,588 square-foot, truck- and automotive-maintenance facility and office building, has been leased to a group of local Hyundai dealerships. The tenants plan to use the property as a reconditioning, repair, and storage location for its fleet.
Bandon Capital Advisors secured a long-term fixed rate loan with some interest-only periods followed by a 30-year amortization schedule with a trusted life company lender, meeting the borrower’s financing needs.
The property is located at 3539 Howard Way in Costa Mesa, Calif.
The two single-tenant industrial properties in the Los Angeles County cit
