HOUSTON – October 3, 2022 – JLL Capital Markets today announced that it has arranged financing for the acquisition of the Houston Prime Industrial Portfolio, a portfolio of seven light industrial properties totaling 711,399 square feet across 23 buildings in Houston, Texas.
JLL worked on behalf of the borrower, Fort Capital, to secure the $72 million senior loan through PCCP for the acquisition and stabilization of the properties.
The portfolio is currently leased to a diverse group of 126 tenants operating in various sectors including healthcare, automotive, construction, technology, energy, etc. The buildings, which were constructed between 1978 and 2000, offer clear heights of 13 to 25 feet with office finishes.
The properties are positioned in the North, Northwest, Southwest and South Houston industrial submarkets. The Houston industrial market is currently 94% occupied and has seen over 32 million square feet of net positive uptake over the past 12 months.
The JLL Capital Markets team representing the borrower was led by Managing Director Cullen Aderhold.
JLL Capital Markets is a global, full-service provider of capital solutions for property investors and occupiers. The firm’s in-depth knowledge of the local market and global investors provides best-in-class solutions to its clients, whether it is sales and investment advice, debt advice, equity advice or recapitalization . The firm has more than 3,000 capital markets specialists worldwide with offices in nearly 50 countries.
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