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JLL Capital Markets Secures $17.5M Loan For Moreno Valley Development Site

Property Image
FINANCED
$17,500,000
Peter Thompson
Greg Brown
Spencer Seibring
+ 2

California

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Development Site500,000 SF
Financed 09/08/2023
the dealplayerscompscontact
Property Image
FINANCED

JLL Capital Markets Secures $17.5M Loan For Moreno Valley Development Site

12150 Theodore St Moreno Valley, CA 92555, USA

See Similar Deals
Development Site500,000 SF
Financed 09/08/2023
Peter Thompson
Greg Brown
Spencer Seibring
+ 2
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$35
Total Square Footage:500,000 SF
Transaction Type:Loan

The JLL Capital Markets team has secured $17.5 million in pre-development financing for a 22.1-acre parcel located at 12150 Theodore Street in Moreno Valley's World Logistics Center. The property, owned by CapRock Partners, offers a development site with a building square footage of 500,000 and is situated in a market known for its logistical advantages.

Summary of Transaction Details

  • Property Type: Development Site
  • Transaction Amount: $17,500,000
  • Address: 12150 Theodore Street
  • Market: Moreno Valley
  • Building Square Footage: 500,000

CapRock Partners, led by Patrick Daniels, serves as the landlord for this project. The brokerage team from JLL, consisting of brokers Greg Brown, Peter Thompson, Kyle White, and Spencer Seibring, facilitated the financing deal. With the newly secured funds, CapRock has the option to either develop the property by constructing a warehouse or sell the land once it has been entitled, providing flexibility for future decision-making.

Players

Greg Brown
JLL
Greg Brown
21 deals$1.2B volume
BROKER
Peter Thompson
JLL
Peter Thompson
15 deals$1.4B volume
BROKER
Spencer Seibring
JLL
Spencer Seibring
7 deals$480.9M volume
BROKER
Kyle White
JLL
Kyle White
11 deals$1.2B volume
BROKER
PD
Patrick Daniels
5 deals$78.9M volume
LANDLORD

Details

FINANCED
IMAGE: Greg Brown, Kyle White, Peter Thompson & Patrick Daniels DATE: 09/08/2023 ADDRESS: 12150 Theodore Street MARKET: Moreno Valley ASSET TYPE: Development Site ~ BSF: 500,000 ~ ACRES: 22.1 LANDLORD: CapRock Partners (@caprock_partners) - Patrick Daniels BROKERS: Greg Brown, Peter Thompson, Spencer Seibring & Kyle White - JLL (@jll) LOAN AMOUNT: $17,500,000 LOAN TYPE: Refinance NOTE: JLL Capital Markets secured $17.5 million in pre-development financing for a 22.1-acre parcel in Moreno Valley's World Logistics Center. CapRock, the developer, can choose to build a 500,000-square-foot warehouse or sell the land once entitled.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$17,500,000.00

Monthly NOI$116,666.67
Monthly Debt Service$110,611.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00