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Apollo backs $130.5M loan for Brookfield’s Rialto logistics center
The financing will support a Class A industrial build totaling 664,859 square feet in Rialto, on a parcel that previously belonged to the closed Rialto Airport.
Brookfield has secured $130.5 million in construction financing for Locust Gateway Logistics Center in Rialto, Calif., Commercial Observer first reported. The project is planned as a Class A industrial facility.
The development is set to cover 664,859 square feet, and the site sits on an undeveloped parcel that previously was part of the old Rialto Airport, which closed 12 years ago, according to Commercial Observer.
Apollo provided the debt as a five-year financing package. CBRE’s Tom Rugg, Tom Traynor, Val Achtemeier, Mark Finan and Henry Fenmore arranged the transaction, Commercial Observer said.