According to a report, CBRE Capital Markets Debt & Structured Finance arranged a $22 million loan for the acquisition of a 285,022 ft2 cold-storage facility in Phoenix, Ariz. The borrower is a joint venture between Condor Cold Storage and AEW Capital Management.

The facility is leased to Café Valley, a producer of bakery products. It includes a combination of office, warehouse, baking, production and ammonia freezer facilities.