Highland Realty Capital Secures $6MM Financing in Oakland’s Green Zone

Highland  Realty Capital secured a $6.08mm refinancing for a 100,000+ sf, 3‐building industrial property located in Oakland’s Green Zone. The  3‐year  fixed rate loan was priced in the high single digits at a 60% LTC by a Los Angeles based private debt fund. Fifty percent of the property is comprised of 3 cannabis and remaining four tenants are  traditional  low  cost  industrial  users. These  spaces  will  convert  to  complimentary  cannabis industry  tenants as  the leases  roll over  the next  four years. The demand  for  cannabis space has increased rents in the area to low mid $2psf NNN compared to $.50‐ $1.00psf for the remaining industrial tenants. “We made a comparative analysis to show the lender that their loan had coverage even  if  […]