Kevin Elliott Of Marcus & Millichap Capital Corp Arranges $12.83M Loan For Industrial Facility In El Cajon

An acquisition financing transaction was arranged for a 109,367-square-foot industrial facility located at 1111 Pioneer Way in El Cajon. The total loan amount for this transaction was $12,825,000, with a loan type labeled as acquisition. The loan features a seven-year term with a 5.54% interest rate, a 30-year amortization schedule, and a loan-to-value ratio of 65% for a fully leased manufacturing and distribution property that includes extensive dock and office space in the supply-constrained San Diego market.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $12,825,000
• Loan Type: Acquisition
• Loan Terms: Seven-year loan, 5.54% rate, 30-year amortization, 65% LTV
• Address: 1111 Pioneer Way
• Market: El Cajon
• Asset Size: 109,367 square feet
• Broker: Kevin Elliott - Marcus & Millichap Capital Corp

Marcus & Millichap Capital Corp arranged the financing for a private client who secured the loan from a local credit union. This financing underscores the increasing demand for industrial properties in the San Diego region, highlighting the strength of the manufacturing and distribution sectors in this market.