Prudential Provides $100M for Central Coast Facility

Prudential Financial has originated a $100 million loan backed by a 34,570-square-foot manufacturing facility in Gonzales, Calif., according to Yardi Research Data.

Braga Fresh Family Farms owns and occupies the Central Coast property, using it as a processing facility. The company acquired the 2010-completed building in 2020 from Pure Pacific Organics LLC, an entity affiliated with Pacific International Marketing.

The Class B facility, dubbed BFG1, is at 180 Katherine St., on a 5-acre lot. Situated close to U.S. Route 101, the property is 34 miles from Monterey, Calif., while the city’s regional airport is 31 miles away. Additionally, BFG1 is 1 mile from BFG2, the company’s second processing and distribution facility in the city, at 500 S. Alta St.

Positive outlook for California’s industrial sector

California CRE is facing uncertainty, according to a recent survey by Allen Matkins/UCLA Anderson Forecast Commercial Real Estate. With global trade tensions and increased construction costs, California developers and investors are now more cautious. However, the state’s industrial market trends indicate positive momentum, with low vacancy rates due to e-commerce companies leasing space.

Against this backdrop, Affinius Capital secured a $67.4 million loan for an Amazon-occupied property in Sacramento, Calif. Cadence Bank provided the note for the 855,000-square-foot fulfilment center.

Other notable deals include Irvine Co.’s $98.9 million refinancing of Jamboree Business Park. The company obtained the loan from OneAmerica, backed by a 10-building Orange County collection totaling 558,000 square feet.