ACORE Capital has provided $71.25 million in acquisition and construction financing to North Palisade Partners for an industrial development in the San Diego region.
The financing will support the ground-up construction of the Palisade Santee Commerce Center in Santee, Calif., according to Commercial Observer.
North Palisade Partners acquired the 13.4-acre infill site for the project. The reported loan combines funding for the site acquisition with capital for construction.
The transaction adds financing for a new industrial project in Santee, a city within the San Diego metropolitan area. Further details on the planned development were not disclosed in the available report.
