PGIM Real Estate Lends $66M For Industrial Property On Lance Drive In Riverside

6275 Lance Dr, Riverside, CA 92507, USA

$66,000,000

$65/SF

Building Size

1,012,995 SF

Asset Type

Industrial

Closing

May 12, 2020

AI

A closed transaction in Riverside involved an industrial property located at 6275 Lance Drive. The property measures 1,012,995 square feet and was owned by TA Realty. The deal was facilitated by brokers Val Achtemeier of CBRE and Ian & Chris DeVries of Colliers International. The lender for this transaction was PGIM Real Estate, represented by Brett Ulrich. The loan amount for the deal was $66,000,000, provided on an 8-year fixed-rate term.

Summary of transaction details:

Property Type: Industrial
Transaction Amount: $66,000,000
Address: 6275 Lance Drive
Market: Riverside
Asset Type: Industrial

The key individuals involved in this transaction were Val Achtemeier of CBRE, representing the buyer or tenant, and Ian & Chris DeVries of Colliers International. Brett Ulrich of PGIM Real Estate was the lender for the deal.

Players