In the News
March 31, 2016
RAF Pacifica Group Acquires Six-Property Industrial Portfolio in San Diego
RE Business Online
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SAN DIEGO - RAF Pacifica Group has purchased a 16-building industrial portfolio in San Diego. The price was not disclosed, though the firm secured a $19.6 million loan at 50 percent leverage for the acquisition.
The 277,040-square-foot portfolio is fully leased. It contains six projects with a total of 87 tenants. The projects include Carroll Way Industrial Park, Rancho Pacifica Business Center, Sorrento Mesa Commerce Center, Enterprise Business Center, and Oceanside Business Park I & II.
Oceanside Business Park I & II was purchased from a private owner, while the remainder were acquired from a private international real estate investment firm.
James Ruiz and Lori Wendel of Keystone Mortgage Corp. provided acquisition financing. Randy LaChance of Voit, Bob Willingham of Kidder Mathews, along with John Witherall, Josh McFadyen and Joe Crotty of Colliers International, executed the transaction.