Chino Hills, CA—March 31, 2021— Avant Capital (Avant), a leading commercial real estate bridge lender, has originated a $8,250,000 bridge loan secured by a 73,610-SF industrial warehouse property located at 5075 Edison Avenue, Chino Hills, CA. Avant was able to fund the loan within four days from receiving a signed term sheet.
Property is well situated just east of the border of San Bernardino and Los Angeles Counties and near major transportation accessways. The vacancy rate in Chino Hills is at a low 1.1%. There is strong demand in the area as fewer warehouses and distribution centers have been built in the area over the past ten years due to higher cost of land. The Property is 100% owner-occupied by a family owned business that has been in operation since 1959.
The Loan was used to refinance a maturing loan and buyout a family member from the partnership.