ABP Capital originated a $10.0 million interest-only loan secured by a 4.27-acre industrial property located at in the Kearny Mesa submarket of San Diego, California. The financing supports the recapitalization and redevelopment of an existing 38,704-square-foot flex industrial building.

Loan proceeds will fund predevelopment costs, demolition of a portion of the existing structure, and construction of a new 25,840-square-foot Industrial Outdoor Storage (IOS) facility, a product type that continues to experience strong tenant demand in supply-constrained infill markets. Upon stabilization, the property will feature enhanced site coverage and improved yard functionality, aligning with modern logistics and service-oriented industrial users.