31 March 2016
California
Reporter: Becky Butcher

RAF Pacifica acquires industrial portfolio


Newly formed RAF Pacifica Group has acquired a portfolio of 16 individual buildings throughout six multi-tenant industrial parks in San Diego.

The group secured a $19.6 million loan at 50 percent leverage for the acquisition.

The buildings are all 100-percent occupied with 87 tenants. The six industrial parks are Carroll Way, Rancho Pacifica, Sorrento Mesa, Enterprise, Oceanside I and Oceanside II.

The four projects were purchased from a private international real estate investment firm. The remaining properties, Oceanside Business Parks I and II, were acquired from a private owner.

Adam Robinson, principal of RAF Pacifica Group, commented: “This portfolio is a rare find in the market. The current market for quality industrial products is extremely competitive in the San Diego area. RAF Pacifica Group, however, was able to secure six quality, tenant-diversified, full-occupancy multi-tenant business parks in San Diego.”

He added: “We want to ensure that our assets are well-positioned for the future, and we plan to make as-needed improvements that will drive high yields.”

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