$12.25M portfolio financing secured for San Diego flex industrial and office portfolio

LOS ANGELES, Nov. 4, 2024 – JLL Capital Markets announced today it has arranged $12.25 million in portfolio financing for Equity Oak Ventures (“EOV”). The EOV Portfolio is a four-building flex industrial, R&D and office portfolio in San Diego County, California, that was purchased all cash in May 2023.

JLL represented Equity Oak Ventures in securing a fixed-rate, three-year loan.

The fully leased portfolio includes a 42,865-square-foot, three-building flex industrial and office campus in Rancho Bernardo and a 44,757-square-foot R&D and cGMP facility in the Carlsbad Research Center, repositioned post-acquisition with long-term leases.

The Rancho Bernardo asset, located at 11225, 11235 and 11245 W. Bernardo Court, consists of three buildings totaling 42,865 square feet, including a single-tenant leased 29,000-square-foot flex industrial building. The property is situated in an area favored by defense, technology and consumer product companies, with major corporations like Apple, Northrop Grumman and Sony also maintaining a presence in the submarket.

The Carlsbad property, located at 1900 Aston Ave within the Carlsbad Research Center, occupies a prime corner lot and features dock-level doors, multiple roll-up doors, temperature-controlled industrial space and high-quality office improvements. The newest tenant has signed a long-term lease and is making a significant investment in a large-scale cGMP facility. Carlsbad is known for its diverse economy, including life sciences, action sports manufacturing, clean technology and biotech sectors.

The JLL Debt Advisory team was led by Managing Director Alex Witt, Senior Director Chris Collins and Vice President Daniel Pinkus.

“The JLL team demonstrated exceptional dedication and expertise, guiding us through a very challenging capital market to secure debt that strategically aligns with our business plan and is accretive to the EOV Portfolio,” said Bill Doyle, Managing Partner at EOV.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.      

Equity Oak Ventures, LLC is a privately held commercial real estate investment, management, and advisory firm led by Bill Doyle and Eric Lupinski. The firm specializes in acquiring, managing, and stabilizing value-add and opportunistic industrial, R&D, life science, and office investments throughout the Western U.S. Equity Oak Ventures represents more than 40 years of combined experience across over 13 million square feet of assets collectively valued at over $6 billion, and is guided by core principals of Respect, Experience, Integrity, and Trust.