Leading investment manager Barings announced that it has provided a $70.2 million loan to refinance Tracy 205 Logistics Center, a recently delivered industrial building in northern California’s Northern Central Valley submarket.
Tracy 205 Logistics Center was developed by Trammell Crow Company. It features over 606,000 square feet of a cross-dock design with 40’ clear heights, ample power, efficient loading, and multiple ingress/egress points.
The CBRE San Francisco Debt & Structured Finance team led by Mike Walker and Brad Zampa advised the sponsorship on the financing.
KEY QUOTES:
“We are excited to grow our relationship with both CBRE and Trammell Crow with the refinancing of this high-quality industrial property located in the Northern Central Valley. This investment is highly aligned with Barings’ real estate strategy, which focuses on providing financing for high quality real estate in markets with strong demand/supply dynamics, backed by experienced sponsorship.”
- Jack Cheng, Managing Director with Barings
“The talented institutional sponsorship and the property’s strategic location were instrumental in securing attractive financing for Tracy Logistics Center. The Central Valley is one of California’s prominent industrial markets given its proximity to the Bay Area and Sacramento. New industrial facilities like Tracy Logistics Center are well-positioned to attract investors and occupiers to the market due to high barriers to entry and limited availability.”
- CBRE’s Michael Walker
