McMahon Development Group Secures $6M Loan

CHULA VISTA, CA-McMahon Development Group is moving forward with its acquisition of South Bay Distribution Center, as it has just secured a loan that will finance the purchase of the Chula Vista property.

Deutsche Banc Mortgage Capital is providing the loan, which is worth nearly $6 million. The financing, which was arranged by Jamie Dick of Burnham Real Estate Services’ capital markets group, will enable McMahon to acquire South Bay Distribution Center, a 118,000-sf industrial property that stands at 684-698 Anita St. in Chula Vista.

The refinancing comes as interest rates are low and San Diego County’s industrial market is on the rebound. Over the past several months, some sizable industrial transactions have been reported here, including Harsch Investment Properties’ $20.5-million acquisition of Loma Business Center in San Diego and Stellar Properties’ $15.2-million purchase of the 206,000-sf Carlsbad Distribution Center in Carlsbad.