Scripps Investments & Loans Provides $19,025,000 in Acquisition & Development Financing for 125-acre Commercial / Industrial Project in Calexico, CA.

LA JOLLA, Calif., May 14  /PRNewswire/ -- Scripps Investments & Loans, a private lender in La Jolla, California, provided $19,025,000 in financing for the TownCenter Plaza project in Calexico, California.  The transaction was structured as a 12 month loan with two 3-month options to extend, and is secured by a first trust deed on the project.
TownCenter Plaza consists of 125.7 acres of commercial/industrial land tentatively mapped for 51 industrial lots ranging in size from 1 to 8.44 acres situated on the north side of Cole Road, west of Highway 111 in Calexico, California.  Scripps loan will provide construction funds to develop the commercial/industrial lots for sale.
Calexico is located 125 miles east of San Diego on the US-Mexico border. Land uses are predominantly based on the border trade and NAFTA activities. The current Calexico industrial market contains approximately 1.5 million SF that is less than 5% vacant.
About Scripps Investments & Loans:
Scripps Investments & Loans, Inc. is one of California's leading acquisition, development and construction lenders, having originated over $1.5 Billion in real estate loans since 1999, through a network of over 600 private and institutional investors.
Scripps Investments & Loans, Inc.
CONTACT:  Kyle Ward of Scripps Investments & Loans Inc., +1-858-866-6300