Key Takeaways
- • Barings provided $138.6 million in first mortgage financing to refinance Speedway Commerce Center, a two-building Class A industrial asset totaling approximately 656,000 square feet in Rancho Cucamonga, California, according to a Business Wire announcement.
- • The financing was extended to Hillwood, a Perot Company, and is the first U.S. industrial transaction between the two firms following their prior work together in Europe.
- • The property is 100% leased and has immediate access to Interstate 10 and Interstate 15, with connectivity to the Ports of Los Angeles and Long Beach.
- • Barings describes itself as a $500 billion global alternative asset manager as of September 30, 2026, a subsidiary of MassMutual with a minority investment from MS&AD.
Summary
Barings, the alternative investment manager, announced that it has provided $138.6 million in first mortgage financing to refinance Speedway Commerce Center in Rancho Cucamonga, California, in the Inland Empire. The company made the announcement through Business Wire. The financing was provided to Hillwood, a full-service industrial real estate developer, investor, and advisor that focuses on institutional-grade industrial properties.
Speedway Commerce Center consists of two newly constructed Class A industrial buildings totaling approximately 656,000 square feet and is 100% leased. According to the announcement, the buildings offer modern distribution specifications, including high clear heights, ample trailer and automobile parking, and extensive loading capabilities. The property has immediate access to Interstate 10 and Interstate 15, providing connectivity across Southern California and access to the Ports of Los Angeles and Long Beach.
Tom Cross, Managing Director at Barings, said the firm was pleased to provide the financing to Hillwood, which he described as a best-in-class industrial developer with a long track record of delivering high-quality logistics assets in key distribution markets. He characterized Speedway Commerce Center as a modern, strategically located industrial asset in one of the country's most sought-after logistics markets.
Benton Hyatt, Senior Vice President of Debt Markets at Hillwood, said the company was pleased to extend its relationship with Barings to its U.S. industrial business, following the firms' work together in Europe. Hyatt said the financing supports the continued, efficient operation of the property and builds on Hillwood's momentum in the Inland Empire.
Hillwood, a Perot Company, develops and acquires industrial properties across North America and Europe, including the United Kingdom, Germany, and Poland. Barings, which partners with institutional, insurance, and wealth clients, seeks to deliver excess returns across credit, real assets, capital solutions, and emerging markets. The announcement did not disclose the loan term or pricing.
Speedway Commerce Center consists of two newly constructed Class A industrial buildings totaling approximately 656,000 square feet and is 100% leased. According to the announcement, the buildings offer modern distribution specifications, including high clear heights, ample trailer and automobile parking, and extensive loading capabilities. The property has immediate access to Interstate 10 and Interstate 15, providing connectivity across Southern California and access to the Ports of Los Angeles and Long Beach.
Tom Cross, Managing Director at Barings, said the firm was pleased to provide the financing to Hillwood, which he described as a best-in-class industrial developer with a long track record of delivering high-quality logistics assets in key distribution markets. He characterized Speedway Commerce Center as a modern, strategically located industrial asset in one of the country's most sought-after logistics markets.
Benton Hyatt, Senior Vice President of Debt Markets at Hillwood, said the company was pleased to extend its relationship with Barings to its U.S. industrial business, following the firms' work together in Europe. Hyatt said the financing supports the continued, efficient operation of the property and builds on Hillwood's momentum in the Inland Empire.
Hillwood, a Perot Company, develops and acquires industrial properties across North America and Europe, including the United Kingdom, Germany, and Poland. Barings, which partners with institutional, insurance, and wealth clients, seeks to deliver excess returns across credit, real assets, capital solutions, and emerging markets. The announcement did not disclose the loan term or pricing.
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