Exclusive: BGO Secures $58M for Bay Area Asset

January 28, 2026

A TPG division originated the note.

Exterior shot of the 607,208-square-foot facility at 5195 Fermi Drive in Fairfield, Calif. — Completed in 1995, Interchange Logistics Center most recently underwent renovations in 2024. Image courtesy of Colliers

BGO has secured a $58.3 million loan backed by Interchange Logistics Center, a 607,208-square-foot Class A industrial building in Fairfield, Calif., according to Yardi Matrix. TPG Capital, the debt and credit platform of TPG Angelo Gordon, originated the note.

BGO has owned Interchange Logistics Center since 2021, when Link Logistics sold it for $73.5 million. A $52.8 million loan issued by Pacific Coast Capital Partners financed that acquisition, the same data provider shows.

The property occupies 28 acres at 5195 Fermi Drive. Completed in 1995 and most recently renovated in 2024, Interchange Logistics Center features 32-foot clear heights, eight grade-level doors, 55 dock-high doors and 121 vehicle parking spots.

TricorBraun fully occupies the distribution center. The global packaging solutions company signed the lease last August; at the time, Interchange Logistics Center was the largest available warehouse in the city. Colliers brokered the deal on behalf of the tenant.

The location is close to interstates 680 and 80 as well as U.S. Highway 12, providing distribution connections throughout the Bay Area, Sacramento, Calif., and the Central Valley. San Francisco is 40 miles away, while Oakland International Airport is 43 miles from the facility.

Financing deals in the Bay Area

Commercial and multifamily loan originations increased 36 percent year-over-year in the third quarter of 2025, according to the MBA’s Quarterly Survey. However, new mortgages for industrial properties were only 5 percent higher over the year, reflecting broader industrial market trends.

The Bay Area’s industrial market shows signs of contraction, with a vacancy rate of 7.9 percent in December, 130 basis points below the national average, according to a recent Yardi Matrix report. Meanwhile, its 3.5 million-square-foot development pipeline ranked in the bottom half of the major 30 U.S. markets.

In one of the market’s more recent financing deals, Longpoint Partners secured $108 million for the purchase of a four-building collection spread across Fremont, Calif., and three other cities. PGIM provided the loan.