Buchanan Mortgage Holdings, LLC (BMH), an affiliate of Buchanan Street Partners, L.P., has provided a $12.0 million non-recourse senior construction loan to finance the entitlement and development of a Class-A industrial outdoor storage (IOS) facility on 6.9 acres in San Bernardino, California. Upon completion, the property will feature a 300,000 rentable square-foot yard with 171 trailer parking stalls, and a 6,000-square-foot maintenance building.
The development is led by Dedeaux Properties, LLC, (“Dedeaux”) a privately-owned firm based in Los Angeles, which is one of the most active developers and investors in logistics-oriented facilities in Southern California. Notably, due to the company’s roots in the trucking industry via its affiliated-family owned company, DART Entities, Dedeaux Properties has been at the forefront of the truck terminal/IOS space and is arguably the most experienced investor in this property type throughout Southern California.
“Dedeaux is an exceptional industrial investor and operator. We are pleased to continue building upon our standing relationship with them and provide creative financing to complete this project,” said AVP Alex Frosh.
The property is strategically located in the Cajon Pass, near the convergence of I-15 and I-215 — a critical logistics corridor linking the Inland Empire to the High Desert. The surrounding submarket is institutional in character, with major occupiers including Amazon, FedEx Freight, Tesla, JCPenney, Hallmark, Lowe’s, Bob’s Furniture, and Dollar Tree.
“This financing exemplifies BMH’s ability to deliver certainty of execution on a tight timeline and flexible loan structuring that aligns incentives for Borrower and Lender,” said SVP Chris Cervisi.
According to Brett Dedeaux, chief executive and managing partner, “this project reflects continued demand for well-located, institutional-quality IOS product in Southern California. Given the property’s strategic positioning within a critical logistics corridor, we believe the development will be well received by both the market and users seeking functional, scalable outdoor storage solutions.”
ABOUT BUCHANAN MORTGAGE HOLDINGS, LLC
Buchanan Mortgage Holdings, LLC, an affiliate of Buchanan Street Partners LP, originates non-recourse bridge and construction loans for the acquisition, development, renovation, recapitalization or refinance of commercial real estate located in primary and secondary Western U.S. and Texas markets. The company utilizes its own balance sheet and fully discretionary lending capabilities to provide certainty of execution within short timeframes, flexible loan structures and creative financing solutions. Our extensive experience as an owner and operator of commercial real estate allows us to understand what our borrowers need to successfully execute their business plans and maximize the value of the underlying real estate.