CIT Group Inc. announced that its Real Estate Finance division was the sole lead arranger of a $50 million senior secured loan for the acquisition of industrial properties in San Diego, California, by BKM Capital Partners.
 
The acquisition consisted of six industrial properties and 14 buildings in the Otay Mesa community in the southern section of San Diego, California, which has ready access to major transportation routes and the border crossing to Mexico.

"This strategic location provides tenants with unmatched access across the border, as well as direct access to the SR-905 and I-5 freeways," explains BKM Capital Partners CEO and Co-Founder Brian Malliet. "We appreciated CIT's ability to close the loan in a short time frame, which helped enable a smooth and successful transaction."

"Ongoing economic growth is benefitting the commercial and industrial sectors in the San Diego area," said Bryan Cavalier, managing director and West Coast head of CIT's Real Estate Finance division. "We were pleased to continue building our longstanding relationship with BKM Capital Partners in financing this acquisition."