BIRMINGHAM, Ala. – May 1, 2019 – Regions Bank announced today the Atlanta Regions Real Estate Banking office recently provided a $22 million construction loan for the Harvill Business Center, almost 424,000 square feet of Class A industrial property located in Inland Empire, California.
Core5 Industrial Partners (“Core5”) is a full-service real estate property company with expertise in the development and acquisition of Class A inventory and build-to-suit industrial facilities. Core5’s latest development of industrial property is located in Riverside County. The subject property sits just over a mile south of the I-215 interchange, one of the most preferred truck routes to and from the Ports of Los Angeles and Long Beach. The Harvill Business Center will lie in the East submarket of Inland Empire, which is heavily influenced by the larger industrial inventory submarket of Riverside. The project is approximately 30 miles from Ontario International airport and within 4-hours of reaching more than 10 million people. The property will feature a 424,000-square foot distribution center with 36’ clear height, 191 auto stalls, and 100 trailer parking stalls. Expected completion date is August 2019.
Regions Real Estate Banking is a team of four business groups – Real Estate Corporate Banking, Income Property Finance, Homebuilder Finance and Regions Affordable Housing – strategically assembled to meet the needs of professional real estate companies, developers and investors. Regions delivers competitive products with superior service marked by speed, certainty and creativity, leveraging the bank’s full capabilities to offer a wide range of integrated banking solutions to help real estate businesses succeed and grow.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $129 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest, and Texas, and through its subsidiary, Regions Bank, operates approximately 1,500 banking offices and 2,000 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.