Barings, which is one of the world’s largest diversified real estate investment managers, announced that it has provided a $96.96 million loan for Generation Park I & II in Houston, Texas and a $39.5 million loan for Falcon II in Oakwood (Atlanta), Georgia to refinance these newly built industrial properties. Run by Centris Industrial and externally managed by Outrigger Industrial, these projects have recently been completed and are in various stages of lease up.
These properties were built to modern specifications in strong distribution and logistics markets, accommodating a wide range of tenants. And Generation Park I & II consists of two buildings totaling 1.28 million SF, and Falcon II consists of three buildings totaling 496,195 SF.
This deal expands Barings’ 23.79+ billion real estate debt platform, which leverages the team’s broad direct origination capabilities and deep credit expertise to invest in loans secured by institutional-quality commercial real estate.
Advisors: Steve Roth and Bill Jurjovec of CBRE advised the sponsorship on the financing.
KEY QUOTES:
“We’re excited to provide these financings for Outrigger and look forward to deepening our partnership with Outrigger’s management team, expanding on their decades of success in the development and operation of industrial and logistics assets. Both Houston and Atlanta are dynamic markets with new supply being curtailed and absorbed.”
Tom Cross, Managing Director for Barings
