Apollo Provides $131M Construction Loan for Brookfield’s California Logistics Center

Brookfield has secured $130.5 million in construction financing to build Locust Gateway Logistics Center, a Class A industrial facility that will span 664,859 square feet in Rialto, Calif., Commercial Observer can first report.

Apollo provided the debt, structured as a five-year financing package, while CBRE’s Tom Rugg, Tom Traynor, Val Achtemeier, Mark Finan and Henry Fenmore arranged the transaction.

Located at 2125 West Lowell Street in Rialto, Calif., an Inland Empire city 54 miles east of Los Angeles, the industrial site will sit on an undevelopment parcel formerly part of the old Rialto Airport, which has been closed for 12 years.

Brookfield, Apollo, and CBRE declined to comment.

Brian Pascus can be reached at bpascus@commercialobserver.com.

Source: commercialobserver.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.