At a glance
- Connect CRE's report did not include the loan amount, term or pricing.
- Amegy is carrying this one on its balance sheet, while Greystone's $167 million Miami construction stack ran through non-bank sources.
- Buildings will range from 30,000 to more than 150,000 square feet and will accommodate distribution, logistics, light manufacturing and multi-tenant users.
IPA Capital Markets arranged construction financing for Adkisson Group's Commerce Center Industrial Park, nine light-industrial buildings totaling just over 500,000 square feet in North Houston, with Amegy Bank providing the debt.
Connect CRE's report did not include the loan amount, term or pricing. It also did not say whether the nine buildings are speculative or pre-leased.
Amegy is carrying this one on its balance sheet, while Greystone's $167 million Miami construction stack ran through non-bank sources. That September construction stack combined an impact fund loan, tax credits and a Freddie Mac forward, with no bank in the group.
Buildings will range from 30,000 to more than 150,000 square feet and will accommodate distribution, logistics, light manufacturing and multi-tenant users. Adkisson is building on approximately 36 acres inside the 189-acre North Houston Commerce Park. Partners assembled the shovel-ready park through its Land Fund 1, launched in 2022. Cullen Atchison and Hayden Sieling led the IPA team on the assignment, per Connect CRE.
All Phase I land at the park has sold, according to Connect CRE; a September report said remaining closings were expected by year-end.
Reported by the Real estate debt desk from Connect CRE, PRED archive and PRED archive. Published . Corrections