Updated Apr 24, 2026
Gantry Secures $40 Million Loan For Xebec's Industrial Assets In Los Angeles
5370 South Boyle Avenue & 10445 Glenoaks Boulevard
$40,000,000
$67/SF
Building Size
298,000 SF
Asset Type
Industrial
Closing
Apr 21, 2026
About this deal
AI
The transaction involved two fully leased industrial assets located at 5370 South Boyle Avenue and 10445 Glenoaks Boulevard in the Vernon and Pacoima markets, totaling 298,000 square feet. The properties include a 203K square foot facility occupied by PODS in Vernon and a 95K square foot building housing Quixote soundstage in Pacoima.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $40,000,000
- Loan Terms: five-year fixed rate, interest-only
- Landlord: Randy Kendrick - Xebec Realty
- Broker Representatives: George Mitsanas, Bahman Mirhashemi & Keegan Bridges - Gantry
Gantry secured the $40 million loan from an insurance company lender to refinance the industrial assets for a joint venture managed by Xebec. The properties are cross-collateralized, indicating the financial arrangement supporting both locations in the Los Angeles area.
On the Map
$40,000,000
$67/SF
Industrial
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Players
Vernon 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93