SMBC Provides $135M Refi on Amazon-Leased Bay Area Logistics Property
By Andrew Coen November 5, 2024 1:31 pm
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Affinius Capital has secured a $135 million loan to refinance an Amazon (AMZN)-leased industrial park in the San Francisco Bay Area, Commercial Observer has learned.
Sumitomo Mitsui Banking Corporation (SMBC) supplied the loan on a newly built logistics building at Midway Commerce Center in Vacaville, Calif., sources familiar with the deal told CO. Affinius partnered with Ridgeline Property Group to complete the 89.7-acre logistics property last year in Solano County.
Newmark (NMRK) arranged the transaction with a team led by Jonathan Firestone and Ramsey Daya alongside Jordan Roeschlaub.
Located at 920 Eubanks Drive, 60 miles northeast of Downtown San Francisco, the 1.2 million-square-foot warehouse and distribution center logistics is 100 percent leased to Amazon through 2034 with three five-year extension options, according to sources familiar with the deal.
The facility, also known as Building C, is one of three buildings that comprise the 1.6 million square-foot Midway Commerce Center.
Affinius and SMBC declined to comment.
Andrew Coen can be reached at acoen@commercialobserver.com
