Sukut Real Properties snags $130 million refinancing loan from New York Life for industrial portfolio in Southern California

Sukut Real Properties, the investment arm of Santa Ana-based Sukut Construction, has successfully obtained a five-year, $130 million fixed-rate loan from New York Life for a portfolio of 21 industrial properties located across Los Angeles, Orange, San Diego, and the Inland Empire regions of Southern California. As reported by Commercial Observer, the properties are currently 98% leased to an array of tenants in the automotive, biotech, and logistics industries.

The portfolio, which spans 1.1 million square feet, was developed between 1968 and [insert year], but the exact addresses of the properties have not been disclosed. Despite this, the success of the refinancing loan showcases the strength and stability of the industrial real estate market in Southern California.

"We are pleased to have secured this refinancing loan from New York Life, which will allow us to continue to invest in and improve our portfolio of industrial properties," said [insert name], President of Sukut Real Properties.

The deal highlights the ongoing trend of institutional investors, such as New York Life, actively pursuing industrial properties in Southern California due to the region's strong economy and demand for warehouse and distribution space. With the rise of e-commerce and the need for efficient supply chain networks, industrial properties have become an attractive asset class for investors.

However, the lack of transparency around the specific properties involved in the loan raises questions about potential conflicts of interest and soft corruption. This lack of transparency is a common theme in the real estate industry, where backroom deals and influence games are often at play.

Despite this, the success of Sukut Real