New York Life Lends $130M for SoCal Industrial Portfolio
The 21-property portfolio is 98% leased across Los Angeles, Orange and San Diego counties, as well as the Inland Empire region
By Nick Trombola September 22, 2025 5:05 pm
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The investment affiliate of an Orange County, Calif.-based construction company has landed a nine-figure refinancing loan, from one of the nation’s most prominent lenders, for its Southern California industrial portfolio, Commercial Observer can first report.
Sukut Real Properties, which shares an address with Santa Ana-based Sukut Construction, secured a five-year, $130 million loan toward 21 properties across Los Angeles, Orange and San Diego counties, as well as the Inland Empire region. New York Life provided the fixed-rate loan, a source told CO.
The 1.1 million-square-foot portfolio is currently 98 percent leased, according to broker JLL, with tenants in the automotive, biotech and logistics industries, among others. Yet the exact addresses, names and square footage of the properties were not immediately available. The properties were developed between 1968 and 2016, per JLL. A representative for Sukut did not immediately respond to a request for comment or more information.
JLL’s Greg Brown, Allie Black and Nick Englhard arranged the financing on behalf of Sukut.
“Sukut Real Properties has assembled an exceptional collection of assets that benefit from irreplaceable locations, strong tenant relationships and significant mark-to-market opportunities,” Brown said in a statement. “The portfolio’s geographic and tenant diversification, combined with its proximity to major transportation infrastructure, positions it to capitalize on Southern California’s continued industrial demand growth driven by e-commerce, manufacturing and logistics operations.”
Southern California’s industrial market is the largest in the Western Hemisphere, yet general economic and tariff uncertainty continue to cause anxiety among developers and investors within the region.
Still, the market’s fundamentals are too good to ignore, despite the risks. Metlife Investment Management, for example, recently sold a three-property industrial portfolio in separate deals for a total of $165.5 million.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
