Brookfield Properties Secures $130.5 Million Loan From Apollo For Rialto Development Site

Brookfield Properties secured a $130.5 million construction loan from Apollo to develop the Locust Gateway Logistics Center, a development site located at 2125 West Lowell Street in Rialto, California. The property has a buildable square footage of 664,859 and is categorized as a Class A industrial facility.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $130,500,000
• Lender: Apollo
• Landlord: Brookfield Properties
• Loan Type: Construction
• Loan Terms: five-year
• Market: Rialto, CA
• Brokers: Tom Rugg, Thomas Traynor, Val Achtemeier, Mark Finan & Henry Fenmore - CBRE

The financing package, which spans five years, was arranged by CBRE and will facilitate the development on a former portion of the closed Rialto Airport site, situated within the Inland Empire region. The transaction involved key individuals from CBRE who played a pivotal role in arranging the financing for this project.