Byline Bank Closes on Term Loan for South Bay IOS Portfolio
Byline Bank’s Commercial Real Estate Group (BCREG) closed on a $20.25-million term loan with Stockbridge Capital Group to refinance a two-property industrial outdoor storage (IOS) portfolio in Wilmington. The 13-acre portfolio is 100% leased and includes properties at 501 Quay Ave. and 1540-1550 Eubank Ave.
Located near the Ports of Los Angeles and Long Beach in the South Bay submarket, the properties offer access to one of the country’s largest freight and logistics hubs, as well as major transportation corridors serving Southern California. Both properties are less than six miles from the ports.
“Industrial outdoor storage is an important part of the logistics network, particularly in infill markets where access to ports and major transportation routes is critical,” said Sarah Hunter, SVP of BCREG. “This portfolio combines long-standing tenants with a location that provides direct access to some of Southern California’s most important transportation infrastructure. It was a pleasure to work with Stockbridge on a financing solution that supports these well-positioned assets.”
The transaction was led by Sarah Hunter, Dylan Derrickson, Matt Smith and Eric Estela of BCREG. CBRE represented Stockbridge in the financing.
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