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.