Moorpark Warehouse Sold for $22.8 MillionMonday, February 27, 2017
Real estate investment bank Continental Partners has secured financing for the $22.8 million purchase of an industrial building in Moorpark.
The unnamed buyer is an electronics company that purchased the 256,000-square-foot warehouse at 709 Science Drive. It is relocating from its current 50,000-sqaure-foot facility and will occupy about 20 percent of the building, which was vacant at the time of acquisition.
Los Angeles-based Continental Partners secured a $13.7 million first trust deed from an international portfolio lender and another $5.5 million from a small business green program in the form of a second trust deed.
“This transaction was complex, requiring a unique financing solution to secure the most competitive terms for the borrower,” Continental Partners Director Zalmi Klyne said in a statement.