Barings has provided $138.6 million in first mortgage financing to refinance Speedway Commerce Center, a two-building Class A industrial property in Rancho Cucamonga, California.
The financing was provided to Hillwood, an industrial real estate developer and investor with operations across North America and Europe. Speedway Commerce Center consists of two recently constructed industrial buildings totaling approximately 656,000 square feet.
The property is currently 100% leased and includes modern logistics and distribution features such as high clear heights, extensive loading infrastructure, and significant automobile and trailer parking capacity.
Speedway Commerce Center is located in California’s Inland Empire, one of the country’s largest logistics and distribution markets. The property offers immediate access to Interstate 10 and Interstate 15, providing connections throughout Southern California as well as routes to the Ports of Los Angeles and Long Beach.
The transaction expands the relationship between Barings and Hillwood. The two companies have previously worked together on industrial real estate projects in Europe, while the Speedway Commerce Center financing extends that relationship into Hillwood’s U.S. industrial portfolio.
Hillwood is a Perot Company focused on developing, acquiring, and managing institutional-grade industrial real estate. The company operates across North America and European markets including the United Kingdom, Germany, and Poland.
Barings manages approximately $500 billion in assets globally as of September 30, 2026. The alternative asset manager works with institutional, insurance, and wealth clients across credit, real assets, capital solutions, and emerging markets.
Barings is a subsidiary of MassMutual, with MS&AD holding a minority investment in the firm. The Speedway Commerce Center transaction adds to Barings’ commercial real estate lending activity and provides Hillwood with refinancing for a fully leased logistics asset in a strategically important Southern California distribution corridor.
KEY QUOTES:
“We are pleased to provide this financing to Hillwood, a best-in-class industrial developer with a long track record of delivering high-quality logistics assets in key distribution markets. Speedway Commerce Center is a modern, strategically located industrial asset in one of the country’s most sought-after logistics markets, with excellent transportation connectivity and strong long-term demand drivers.”
Tom Cross, Managing Director At Barings
“Hillwood is pleased to extend its relationship with Barings to our US industrial business, following the firms’ work together in Europe. This financing supports the continued, efficient operation of Speedway Commerce Center and builds on Hillwood’s momentum in the Inland Empire.”
Benton Hyatt, Senior Vice President Of Debt Markets At Hillwood
