PCCP provided a $61.8 million senior loan to Bixby Capital Management to finance the acquisition and lease-up of a 222,382-square-foot industrial warehouse at 212 Alligood Way in Lebanon, Tennessee, in the Nashville market, and Red River Business Park, a three-building, 241,104-square-foot industrial park at 900 Arthurs Lane in Lewisville, Texas, in the Dallas-Fort Worth area.
Developed in 2024, the Class-A buildings are currently 35% occupied. The financing represents PCCP’s third loan to Bixby.
Following are further details for each location:
Lebanon, TN: The 222,400-sf rear-load industrial building is within the Alligood Industrial Park. Featuring 32’ clear heights, the building sits on a 12.7-acre site just 0.4 miles from I-40, providing direct access to the broader Nashville MSA. Nashville is home to 2.1 million residents and is one of the nation’s fastest-growing MSAs with access to approximately 24 states and 75% of U.S. markets within a one-day truck drive.
Lewisville, TX: Red River Business Park consists of three rear-loaded buildings totaling 241,100 sf with clear heights ranging from 28’ to 32’. The Class A property is strategically positioned on a 19.4-acre site at the intersection of I-35E and SH-121, providing strong access throughout the DFW Metroplex and is proximate to DFW International Airport (15-minute drive time). Other nearby national tenants including Amazon, Toyota, and FedEx.
