Mesa West Capital, a commercial real estate debt fund manager, has provided $32.1 million in financing to the joint venture of High Street Realty Company and Angelo Gordon for the acquisition, stabilization and rebranding of a 611,576-square-foot warehouse and distribution facility in Lockport, Ill.
Constructed in 2017, the I-355 Industrial Center is comprised of two 300,000-square-foot buildings, each standing 32 feet tall. The property sits on a 33-acre parcel of land and fronts I-355, a major north/south arterial in the I-55 Corridor, one of the Midwest’s most prominent distribution hubs.
The funding was provided through a five-year floating-rate loan, which will allow the JV to “take advantage of the off-market acquisition of a newly constructed asset in a maturing industrial market,” according to Mesa West’s vice
