Bridge Industrial Secures $60.4 Million Refinance Loan From Barings For Torrance Industrial Property

The asset involved is an industrial property located at 20950 South Normandie Avenue in Torrance, California. This property encompasses 203,877 square feet and is part of the Torrance market. The transaction involves a refinance loan amounting to $60,400,000.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $60,400,000
• Lender: Barings
• Landlord: Steve Poulos - Bridge Industrial
• Previous Financing: $38.5 million note from National Life Insurance Co. and a $9.6 million loan from CrossHarbor Capital Partners
• Asset Certification: LEED Gold
• Clear Heights: 32 feet
• Dock-high Doors: 21
• Drive-in Doors: 2
• Office Space: Roughly 5%
• Proximity to City Center: Less than three miles
• Proximity to LAX: 12 miles

Bridge Industrial refinanced BridgePoint South Bay II with the new loan, taking advantage of favorable financing conditions while improving the property's financial structure. Steve Poulos represents Bridge Industrial in this transaction.