Fort Capital secures financing for 7-property industrial portfolio in Houston
JLL Capital Markets arranged acquisition financing for Houston Prime Business Park Portfolio
HOUSTON – October 3, 2022 – 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, Texas.
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’-25’ 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.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Fort Capital
Fort Capital is a Texas-based, privately-owned real estate investment firm with a track record of transacting more than $1.9 billion in assets throughout the major markets in Texas, Florida, and Tennessee. Named the 39th fastest-growing real estate company in America on the Inc. 5000 list, Fort Capital’s mission is to acquire prime real estate, operate with excellence, and deliver exceptional returns to all stakeholders. For further information, visit fortcapitallp.com.