IDS Real Estate Group secures $84m post-close acquisition financing for Azusa Industrial Center
IDS Real Estate Group announced that it has secured $84 million in post-close acquisition financing for Azusa Industrial Center, a three-building industrial park totaling 432,500 square feet located in Azusa, Calif.
JLL worked on behalf of the borrower to secure the four-year, floating-rate loan through PGIM Real Estate’s debt fund focused on transitional bridge lending.
Built between 1986 and 1987, this 432,500-square-foot, three-building industrial property is 100 percent leased to four tenants and features institutional-grade industrial specs. Spanning 23.6 acres, the property features a total of 73 dock doors, seven grade-level doors, truck courts ranging from 130 to 160 feet and clear heights ranging from 24 to 30 feet.
Azusa Industrial Center offers a ground-zero industrial logistics location with close access to Southern California’s robust freeway network, located minutes from the Interstate 210 and Interstate 605 freeways. The property is also locat