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

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.