MDH Partners Secures $80M Hubble Loan From KKR For California Logistics Centers Acquisition
22780 Harley Knox Blvd Perris, CA 92571, USA
$80,000,000
Building Size
—
Asset Type
Industrial
Closing
Aug 22, 2023
AI
MDH Partners, led by Arun Singh, has secured an $80 million "Hubble" loan from KKR to finance the acquisition of fully leased logistics centers located at 22780 Harley Knox Boulevard and 21500 Harvill Road in Perris, California. The industrial properties in the Inland Empire market are part of MDH Partners' recent acquisitions.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $80,000,000
- Address: 22780 Harley Knox Boulevard and 21500 Harvill Road, Perris
- Market: Perris
This deal marks MDH Partners' first real estate credit transaction with KKR. The "Hubble" loan provided by KKR enables MDH Partners, under the leadership of Arun Singh, to finance their expansion into the logistics centers in California's Inland Empire market. This strategic move strengthens MDH Partners' presence in the industrial real estate sector.
Players
Perris Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93