Ty Newland Of Newland Capital Secures $102 Million Refinance For Industrial Asset In Hemet CA

The asset involved in this transaction is an industrial property located in Hemet, CA, with a total square footage of 850,640. The transaction includes a refinance loan amount of $102,000,000. The terms for this loan are structured as a 5 year interest-only, non-recourse arrangement.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $102,000,000
• Loan Type: Refinance
• Loan Terms: 5 year IO Non recourse
• Landlord: Ty Newland - Newland Capital
• Mortgage Broker: CJ Danziger - SevenStone Capital
• Lender: Eric Mirvis - Citi Bank & Judah Samter - Argentic
• Leasing Broker: Casey Mungo - DAUM Commercial Real Estate Services

This refinance transaction involves key individuals including Ty Newland, representing the landlord, as well as CJ Danziger acting as the mortgage broker. The financing was arranged through lenders Eric Mirvis from Citi Bank and Judah Samter from Argentic. Casey Mungo facilitated leasing aspects through DAUM Commercial Real Estate Services. NOTE: This is a cash-out refinance on a brand new Class A industrial building.