TH Real Estate has provided a $135 million fixed-rate loan to Alere Property Group, TH Real Estate announced Dec. 18.

The loan is for 19 industrial properties in Southern California. Nine of the properties are in the South Bay. Others are in Central Los Angeles and the Inland Empire.

“We are very pleased to have closed our first debt transaction with Alere Property Group,” said Michael B. Jameson, managing director, West Coast Debt Originations, TH Real Estate, in a statement. “It is one of the premier developers and operators of industrial properties in Los Angeles and the Inland Empire, two very strong markets where TH Real Estate looks to expand its lending presence.”

The portfolio has 1.7 million square feet, of which 95 percent is leased to 18 tenants.

Alere Property Group did not immediately respond to requests for information on what it planned to do with the loan.

L.A.’s industrial market has seen increasing demand in recent years as e-commerce and the need for fast delivery grows.

In the third quarter of 2018, the vacancy rate for the county’s industrial market was 1.3 percent, according to data from Jones Lang LaSalle Inc. In the South Bay, the vacancy rate was a mere 1 percent. The asking rent for industrial properties in the South Bays was $0.98 per square foot per month, far above the county average of $0.85 per square foot per month.

Commercial real estate reporter Hannah Madans can be reached at [email protected]. Follow her on Twitter @HannahMadans