Sukut Real Properties Lands $130M for SoCal Portfolio
JLL Capital Markets arranged the loan for the 21-asset collection.
Sukut Real Properties has obtained $130 million in first-lien financing for a 21-property industrial-focused portfolio totaling 1.1 million square feet in Southern California.
JLL Capital Markets arranged the funding on behalf of Sukut. The five-year, fixed-rate loan was provided by New York Life, the Commercial Observer first reported.
The portfolio comprises 17 industrial assets, one self-storage facility, one industrial outdoor storage property, one medical property and one flex office/industrial building. The 21 properties span four major Southern California markets: San Diego County, Orange County, Los Angeles County and the Inland Empire. Construction dates for the individual assets range from 1968 to 2016.
The portfolio is 98 percent occupied, with tenants representing a wide range of industries, including automotive services, biotech, logistics, medical services and local small businesses.
The JLL Capital Markets team included Senior Managing Director Greg Brown, Associate Allie Black and Analyst Nick Englhard.
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As of press time, neither Sukut nor JLL had responded to Commercial Property Executive’s request for additional information.
The properties reportedly all enjoy good access to major transportation hubs, including the Ports of Los Angeles and Long Beach, international airports and multiple freeway networks, as well as an expansive labor pool and dense population centers. As such, they support last-mile delivery and e-commerce operations in these high-barrier-to-entry markets.
JLL Income Property Trust goes long on industrial
Despite owning and operating 30-plus assets in Southern California, Sukut Real Properties maintains a quiet profile, unlike its heavy civil construction affiliate, Sukut Construction.
JLL, however, has been a high-profile investor through its JLL Income Property Trust, which, for example, in August acquired Glendale Distribution Center, a 1 million-square-foot warehouse in Glendale, Ariz., in metro Pheonix, for approximately $140 million. The sellers were Clarius Partners and Cresset Partners.
And in an approximately $190 million deal announced just last week, JLL Income Property Trust acquired the West Raleigh Distribution Center, an industrial park in Apex, N.C. Beacon Partners was the seller of the five-building property, according to Yardi Research Data.
The 985,000-square-foot property was completed between 2024 and 2025. It’s 87 percent occupied by a total of eight tenants, the largest of which is a major distributor to the biotech and health-care sectors.
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