Birtcher Logistics Center Rialto Secures $75M Construction Loan From Principal Global Investors

Birtcher Development LLC has obtained a $75 million construction loan for the Birtcher Logistics Center Rialto, a 492,631-square-foot industrial property located at 350 West Valley Boulevard in Rialto, California. The loan was provided by Principal Global Investors, a leading global asset management firm.

Summary of transaction details:

• Property Type: Industrial
• Loan Amount: $75,000,000
• Loan Type: Construction Loan
• Loan Terms: Non-recourse

JLL Capital Markets, through its Debt Advisory team, facilitated the construction financing for the Birtcher Logistics Center Rialto. Greg Brown, Peter Thompson, and Spencer Seibring from JLL represented Birtcher Development LLC in the deal. This marks Birtcher's second recent construction loan with JLL Capital Markets.

Brooke Birtcher Gustafson, the representative of Birtcher Development LLC, played a key role in securing the loan. Birtcher Development LLC is known for its expertise in developing high-quality logistics centers, and the Birtcher Logistics Center Rialto is another addition to their portfolio.

The successful loan transaction showcases Principal Global Investors' confidence in the project's potential and the strong partnership between Birtcher Development LLC and JLL Capital Markets.