PGIM Real Estate has provided $66 million to a fund managed by Boston-based TA Realty to finance its purchase of a newly built, 1 million-square-foot industrial complex in Riverside, Calif.
The borrower, TA Realty, took the eight-year, fixed-rate loan to fund its $131.7 million purchase of the property from Dedeaux Properties earlier this year.
The asset features 36-foot clear heights, truck courts ranging from 140 to 185 feet, and 147 cross-dock loading doors. The asset also includes 11,400 square feet of office space and 355 parking spaces.
