Venture West Funding Arranges $21.2 Million Loan For Credit Tenant Office in Nogales, Arizona
- 2 days ago
- 2 min read
April 03, 2026
El Segundo, CA — Venture West Funding has arranged a $21,200,000 construction‑to‑mini‑perm loan with MidFirst Bank to finance a new build‑to‑suit office building for South32. Headquartered in Perth, Australia, South32 operates a diversified portfolio of mining and metals assets across Australia, Southern Africa, and South America.
The development includes a 27,479‑square‑foot office building and a 359‑space park‑and‑ride on a nine‑acre campus in Nogales. The facility will serve as South32’s Remote Operations Center for the Hermosa Mine, supporting approximately 200 employees who will manage underground and surface mining activity through advanced automation and real‑time monitoring systems.
South32 purchased the site in February 2025 and is developing the campus as part of its long‑term strategy for Hermosa, the only advanced U.S. mining project positioned to produce two federally designated critical minerals—zinc and manganese—essential to clean energy, battery storage, and national security supply chains.
Construction will begin immediately, with completion expected in late 2027. South32 is also working with The Nature Conservancy to ensure the project aligns with responsible environmental and land‑use practices.
“MidFirst was excellent to work with and demonstrated a clear understanding of the needs of our developer and the unique structure of this transaction,” said Matt Douglas, Principal at Venture West Funding. “Their execution allowed us to secure financing for a project that will play a key role in South32’s long‑term operations in the region.”
Venture West Funding, founded in 1997, is a commercial mortgage banking firm with long‑standing relationships across banks, life companies, credit unions, and debt funds. The firm has arranged more than $12 billion in financing since inception and provides borrowers with strategic guidance and hands‑on execution from origination through closing.
Media Contact
Matt Douglas
Principal
Venture West Funding
2321 Rosecrans Ave., Suite 1255
El Segundo, CA 90245
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