Bixby Capital Management Secures $142 Million Refinance Loan From PGIM For Industrial Portfolio

Bixby Capital Management has secured a refinance loan for an industrial and office portfolio encompassing a total of 2,200,000 square feet. The portfolio includes eight Class A industrial properties and an office asset located in Irvine, California. This portfolio spans multiple states including Southern California, Northern California, Florida, Georgia, and Texas.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $142,000,000
• Lender: PGIM
• Loan Type: Refinance
• Loan Terms: 10-year, fixed-rate
• Landlord: Bixby Capital Management
• Brokers: Brian Torp, Kevin MacKenzie & Spencer Seibring - JLL
• Asset Size: 2,200,000 SF
• Tenants: Fully leased to 13 tenants

JLL Capital Markets played a crucial role in arranging this refinancing deal, which involves a diversified portfolio that is fully leased, reflecting stable cash flow from the existing tenants. The financing is aimed at optimizing the financial structure of Bixby Capital Management's asset holdings across these key markets.