Updated Nov 9, 2026
Tony Messiah And Garrett Carter Of PSRS Arrange $35 Million Refinance For Industrial Property In Ontario
248 E Schaefer Ave, Ontario, Ca 91762
$35,000,000
Building Size
—
Asset Type
Industrial
Closing
Aug 5, 2026
About this deal
AI
The asset involved in this transaction is a 60-acre Industrial Outdoor Storage (IOS) property located at 248 East Schaefer Avenue in Ontario, California. The property is strategically situated in Ontario’s logistics corridor, near Ontario International Airport and key distribution centers, making it significant in terms of location within the logistics market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $35,000,000
- Loan Type: Refinance
- Broker: Tony Messiah & Garrett Carter - PSRS- Pacific Southwest Realty Services
- Loan Features: Non-recourse loan with a five-year term and 25-year amortization
Tony Messiah and Garrett Carter of PSRS arranged the refinancing of this IOS property, working with one of their correspondent life insurance companies. The brokers focused on securing favorable loan conditions for their borrower, considering the asset's advantageous positioning in the Inland Empire's logistics landscape.
On the Map
$35,000,000
Industrial
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Players
Ontario 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93