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1101 California Street

North Palisade Partners Secures $65M Construction Loan From Affinius Capital For Redlands Development Site
FINANCEDDevelopment Site

North Palisade Partners Secures $65M Construction Loan From Affinius Capital For Redlands Development Site

1101 California Street

$65,000,000

Building Size

Asset Type

Development Site

Closing

Jan 9, 2025

AI

A joint venture led by North Palisade Partners has secured $65 million in construction financing from Affinius Capital for a 358,000 square foot industrial project located at 1101 California Street in Redlands, CA. The development site encompasses 17 acres and previously operated as a water park. The logistics facility is strategically positioned for direct access to the I-10 and key ports, enhancing its utility within the region's expanding industrial market.

Summary of transaction details:

The financing deal involved key players including Tom Burns representing Affinius Capital, and Joe Mishurda representing North Palisade Partners. The brokerage team from CBRE, consisting of Thomas Traynor, Tom Rugg, and Valerie Achtemeier, facilitated the transaction, contributing their expertise in the industrial market to support this significant development initiative.

Players

Thomas Traynor

CBRE

Broker

$15B

vol

39 deals

Broker
Affinius Capital
Affinius CapitalLender

Redlands Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.24%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93