Barings, one of the world’s leading investment managers, announced today that it has provided a $70.2 million loan to refinance Tracy 205 Logistics Center, a recently delivered, best-in-class industrial building located in the Northern Central Valley submarket in northern California.
Tracy 205 Logistics Center was developed by Trammell Crow Company and is comprised of more than 606,000 square feet featuring cross dock design with 40’ clear heights, ample power, efficient loading and multiple ingress/egress points.
“We are excited to grow our relationship with both CBRE and Trammell Crow with the refinancing of this high-quality industrial property located in the Northern Central Valley,” said Jack Cheng, Managing Director with Barings. “This investment is highly aligned with Barings’ real estate strategy, which focuses on providing financing for high quality real estate in markets with strong demand/supply dynamics, backed by experienced sponsorship.”
CBRE San Francisco Debt & Structured Finance team led by Mike Walker & Brad Zampa advised the sponsorship on the financing. CBRE’s Michael Walker said, “The talented institutional sponsorship and the property’s strategic location were instrumental in securing attractive financing for Tracy Logistics Center. The Central Valley is one of California’s prominent industrial markets given its proximity to the Bay Area and Sacramento. New industrial facilities like Tracy Logistics Center are well-positioned to attract investors and occupiers to the market due to high barriers to entry and limited availability.”
About Barings
Barings is a $421+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions.
*Assets under managements as of December 31, 2024
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