By Charlie Innis (June 21, 2022, 5:58 PM EDT) — A joint venture between investment firm Clarion Partners LLC and Real Estate Development Associates LLC landed $210 million in financing for an 84-acre industrial project in Southern California, according to an announcement Tuesday from borrower-side broker JLL Capital Markets.
Newport Beach, California-based Real Estate Development Associates and Clarion Partners secured the three-year loan with an undisclosed national bank, the broker said.
JLL said the financing will go towards building Ontario Ranch Business Park, a development of seven buildings that spans 1.68 million square feet located in Ontario, California, which is roughly 35 miles east of Los Angeles. It touted the project’s location,…
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