Recently Closed Industrial Bridge Loan:
Single-Tenant Industrial Yard in San Bernardino, California
The RRA Capital team has recently provided a bridge loan for a single-tenant industrial service facility located in San Bernardino, CA. The property is currently a 6-acre undeveloped industrial property that the sponsor plans to develop into a logistics yard. The property was leased to a large national retail tenant as a logistics hub for an extended term. The sponsor is responsible for constructing the improvements prior to the tenant taking occupancy.
The sponsor plans to use RRA’s follow on funding to transform the industrial service facility into a high-quality logistics yard with perimeter security fencing, 177 trailer stalls, and a guard shack.
RRA provided a $5.7M non-recourse, interest-only loan, with extension options. The loan provided acquisition funding, as well as a significantly larger capital improvement facility to fund 100% of the tenant improvements.