Lee Chesnut Of Chestnut Properties Secures $103M Loan From Larry Fink Of BlackRock For IPark

The property asset involved in this transaction is an industrial facility located at 1756 Weld Boulevard in the El Cajon market. The asset spans 362,880 square feet and sits on 32 acres. Chestnut Properties secured a loan amounting to $103,000,000 from BlackRock, which replaces a previous $91,000,000 construction loan. This Class A industrial facility was built for GKN Aerospace and is equipped with EV charging stations, solar panels, and has strategic access to major transport hubs.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $103,000,000
• Address: 1756 Weld Boulevard
• Market: El Cajon
• Asset Size: 362,880 SF
• Acres: 32
• Lender: Larry Fink - BlackRock
• Landlord: Lee Chesnut - Chestnut Properties

The key individuals and companies involved in the deal include Larry Fink representing BlackRock as the lender and Lee Chesnut representing Chestnut Properties as the landlord. Their collaboration on securing the loan has facilitated the ongoing development and operational efficiency of the industrial facility at Gillespie Field iPark.