Newport Beach-based MetroGroup Realty Finance has arranged $58.7 million in financing for seven industrial properties in L.A. and Orange counties.
The properties have a combined 688,661 square feet of space.

“Over the past two years, industrial has outperformed virtually all other real estate sectors, with demand and activity reaching record highs as 2021 came to a close,” J.D. Blashaw, vice president at MetroGroup, said in a statement. “The market continues to be highly competitive, particularly in the prime markets of Los Angeles and Orange County, which offer close proximity to the ports, major thoroughfares and large population hubs, and where companies such as Amazon are snapping up industrial spaces in order to keep up with rising ecommerce demands.”

The largest part of the refinancing was a five-building industrial park in Pomona, which received $29 million. It is a 10-year loan with an interest-only debt service. The industrial park has 503,156 square feet and is fully occupied.

“The financing allowed our client to reduce the interest expense and payment on the existing debt in today’s historically low-rate environment, while tapping earned equity in the project for other investment opportunities,” Blashaw said in a statement.
The second-largest piece was $10.2 million in refinancing provided to a 63,135-square-foot industrial property in the City of Industry.

The building is 100% occupied by two users, including the owner of the building. Ivan Kustic, vice president at MetroGroup, arranged the loan.
The other refinancing loans were $2.2 million for a 13,175-square-foot industrial building in Anaheim, $3 million for a 18,476-square-foot industrial property in Torrance, $3 million for a 28,030-square-foot industrial building in Santa Ana, $4 million for a 22,989-square-foot property in Santa Ana and $7.3 million for a  39,700-square-foot industrial building in L.A.