JLL Capital Markets announced today that it has arranged acquisition financing for the Houston Prime Industrial Portfolio, a seven-property light-industrial portfolio totaling 711,399 square feet across 23 buildings in Houston.
JLL worked on behalf of the borrower, Fort Capital, in securing 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 industries including healthcare, automotive, construction, technology, energy, etc. The buildings, which were built between 1978-2000, offer 13- to 25-foot clear heights with varying office finishes.
The properties are positioned across Houston’s North, Northwest, Southwest and South industrial submarkets. The Houston Industrial market is currently 94% occupied and has incurred over 32 million square feet of net positive absorption over the past 12 months.
The JLL Capital Markets team representing the borrower was led by Managing Director Cullen Aderhold.
