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Location:
12537 & 12524 Cerise Avenue Hawthorne, California
Property Description:
Two industrial buildings, a 94,650-square-foot manufacturing
facility and an adjacent 131,678-square-foot warehouse building,
occupied by E&J Textile Group, Inc., a dyeing and knitting
operation headquartered in Los Angeles.
Titan’s Mission:
- Structure a sale/leaseback transaction to free
seller from a cross-collateralized existing loan which had prevented
previous potential buyers from completing a transaction.
Titan’s Strategy:
- To negotiate with the seller to increase the
scope of the sale and include all of the facilities, and then
negotiated with the lender for a full release.
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Titan
Accomplished:
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In addition to the cross
collateralized note, the property had an on-going environmental
clean up. Titan had experience dealing with the issue of chlorinated
solvents in subsurface soils, and brought in their environmental
engineer who immediately coordinated the clean up with the
State of California and Titan. |
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Won the lender’s confidence given the limited scope
of the clean up and near term expected completion date of
the project. |
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