Westcore Secures $19M Financing for Texas Industrial Portfolio

CBRE has arranged a $19.1 million fixed-rate loan on behalf of Westcore Properties, a San Diego-based commercial real estate investment firm. The financing was secured for the acquisition of Denton Point I and II, a pair of fully leased industrial buildings in the Dallas submarket of Denton, TX.

CBRE Capital Markets’ Debt and Structured Finance team of Mark McGovern, Colby Matzke and Brian Cruz in San Diego along with Scott Lewis, Matt Ballard and Gaby Llanes from Dallas arranged the 5.5-year loan. Westcore acquired the property from TA Realty.

“CBRE helped Westcore Properties acquire the two newly constructed buildings, and assisted them in their requirement for a quick close to meet the seller’s short due diligence period,” said McGovern.

Located at 451 S. Western Blvd., the two facilities total 242,000 square feet and feature 28 dock doors, 32’ clear heights and 125 parking spaces. They are fully leased to DHL, Lowe’s and Muenster Milling.

The post Westcore Secures $19M Financing for Texas Industrial Portfolio appeared first on Connect CRE.