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Nationwide Provides $33.5 Million Refinance For Karney Properties' Industrial Facility In Cerritos, CA

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FINANCED
$33,500,000
Matt Stewart
Jacob Michael
Mark Wintner

California

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Industrial178,454 SF
Financed 06/02/2026
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FINANCED

Nationwide Provides $33.5 Million Refinance For Karney Properties' Industrial Facility In Cerritos, CA

15959 Piuma Avenue

See Similar Deals
Industrial178,454 SF
Financed 06/02/2026
Matt Stewart
Jacob Michael
Mark Wintner
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$187
Total Square Footage:178,454 SF
Transaction Type:Loan

A $33.5 million fixed-rate refinance was arranged for a 178,454-square-foot Class A industrial facility located at 15959 Piuma Avenue in Cerritos, California. The property is owned by Karney Properties and is leased to an investment-grade logistics tenant, reflecting strong infill positioning and highway access in a market with high lender demand for industrial assets.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $33,500,000
  • Loan Type: Refinance
  • Lender: Nationwide
  • Landlord: Jeff Newman - Karney Properties
  • Market: Cerritos, CA
  • Asset Square Footage: 178,454
  • Brokers: Matt Stewart, Mark Wintner & Jacob Michael - JLL

JLL Capital Markets was instrumental in facilitating this refinance transaction, highlighting the ongoing interest from lenders in Southern California's industrial sector. The deal features representation by brokers Matt Stewart, Mark Wintner, and Jacob Michael, who played key roles in the arrangement.

Players

Matt Stewart
JLL
Matt Stewart
13 deals$635.5M volume
BROKER
Jacob Michael
JLL
Jacob Michael
7 deals$255.4M volume
BROKER
Mark Wintner
JLL
Mark Wintner
9 deals$580.7M volume(310) 407-2118
BROKER
Nationwide
Nationwide
LENDER

Details

FINANCED
IMAGE: Matt Stewart, Mark Wintner & Jacob Michael DATE: 06/02/2026 ADDRESS: 15959 Piuma Avenue MARKET: Cerritos, CA ASSET TYPE: Industrial ~ SF: 178,454 LENDER: Nationwide LANDLORD: Jeff Newman - Karney Properties BROKERS: Matt Stewart, Mark Wintner & Jacob Michael - JLL (@JLL) LOAN AMOUNT: $33,500,000 LOAN TYPE: Refinance LOAN TERMS: fixed-rate NOTE: JLL Capital Markets arranged a $33.5 million fixed-rate refinance for a 178,454-square-foot Class A industrial facility at 15959 Piuma Ave. in Cerritos, California, owned by Karney Properties and leased to an investment-grade logistics tenant. The loan, provided by Nationwide, reflects continued lender demand for well-located Southern California industrial assets with strong infill positioning and highway access.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$33,500,000.00

Monthly NOI$223,333.33
Monthly Debt Service$211,742.79
Change in Cash Flow$0.00
Refinance Proceeds$0.00