An affiliate of the Matan Companies has acquired Deepwater Industrial Park, a recently constructed 321,646-square-foot distribution and warehouse complex located at 3001 and 2301 Commerce Road in Richmond, VA. The property, which falls under the industrial asset type, was purchased for an undisclosed amount.

Summary of transaction details

• Property Type: Industrial
• Square Footage: 321,646
• Address: 3001 Commerce Road & 2301 Commerce Road, Richmond, VA
• Market: Richmond, VA

Mesa West Capital, represented by Matthew Snyder, provided a short-term first mortgage loan of $34 million to the Matan Companies' affiliate for the acquisition of Deepwater Industrial Park. The five-year non-recourse financing terms ensure the deal's security and mitigate the risk for the borrower.