Dekel Capital arranges $17 Million of construction debt for development in North Charleston

 
CHARLESTON, S.C. - Oct. 16, 2017 - PRLog -- Dekel Capital, a Los Angeles-based real estate merchant bank that specializes in sourcing and placing equity and debt for active middle market commercial real estate developers and investors, recently closed a $17 million non recourse construction loan for Xebec Realty Partners.. Proceeds will be used to develop a 262,080 SF state of the art Class A multi-tenant light industrial facility in North Charleston, South Carolina.

Dekel Capital utilized its extensive network to identify a lender that was capable of understanding the property's unique positioning and attractive location, and could provide competitive loan terms.

"The development will bring much-needed Class A supply to North Charleston's booming economy where recent transactions indicate significant growth and gave Dekel Capital and the lender a high level of confidence that this was a good investment." said Shlomi Ronen.

The site is strategically located as the last developable site in the Palmetto Commerce Park, which features a variety of tenants including Boeing and Mercedes Benz. The site has excellent access to U.S. Interstate 26, the primary route of transit inland from the Port of Charleston and Charleston International Airport.

This deal reflects Dekel Capital's ability to source capital for its developer clients as they expand into new markets. This non-recourse construction financing was structured as a "stretch senior" loan, which allowed for increased loan proceeds at attractive pricing. The firm has been engaged in a combined $2 billion of structured transactions for developers, operators and investors, over the past 15 years.

About Dekel Capital:
Dekel Capital is a Los Angeles-based real estate merchant bank with proven expertise in capital market advisory and private equity in commercial real estate. The firm serves an elite group of commercial real estate operators, investors and developers with an exclusive, boutique approach, allowing them to create tailored solutions that address unique capital challenges. For more information, please visit www.dekelcapital.com.

About Xebec Realty Partners:

Xebec Realty is a private, vertically integrated real estate firm that focuses on the acquisition, development and management of warehouse and distribution facilities located in top tier logistics markets in the U.S with major port and intermodal infrastructure.

The genesis of Xebec dates back to 1986, with a focus on infill industrial development in the highly competitive central market of Los Angeles. In 1996, Randy Kendrick and John Lehr formed Xebec and built the firm into one of the top industrial developers in Southern California. These principals provide long term and stable management with more than 60 years of combined experience in acquisition, development, finance and asset management.

Contact
Barbara Barnes – Gravesteijn
***@dekelcapital.com
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Tags:Commercial Real Estate, Finance, Mortgage
Industry:Banking
Location:Charleston - South Carolina - United States
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