PGIM Provides $91 Million Loan To CIRE Equity For Roscoe Woodley Campus Acquisition

The transaction involves an industrial property located at 8201 Woodley Avenue & 16200 Roscoe Boulevard in Van Nuys, California. The asset consists of 290,254 square feet on an 11.6-acre site. The property was financed with a $91 million loan provided by PGIM for the acquisition of the Roscoe Woodley Campus, classified as a Class B industrial property with an adjacent storage lot.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $91,000,000
• Lender: PGIM
• Landlord: Joshua Volen & Trevor Smith - CIRE Equity
• Broker: CBRE
• Loan Structure: Floating-rate financing
• Loan-to-Cost Ratio: 76%
• Market: Van Nuys
• Asset Size: 290,254 square feet
• Acres: 11.6

This transaction is represented by Joshua Volen and Trevor Smith from CIRE Equity as the landlords. The deal was brokered by CBRE, focusing on a supply-constrained, infill submarket in the Greater Los Angeles industrial market, with the financing targeting growth opportunities in the area.