Funding of $136 million secured by Barings for the development of two industrial ventures
In a significant move, global investment firm Barings has announced the provision of financings worth $136.46 million for Outrigger's industrial and logistics assets in the dynamic markets of Houston, Texas, and Atlanta, Georgia.
The financing for these properties was advised by Steve Roth and Bill Jurjovec of CBRE. The projects in question include Generation Park I & II and Falcon II, which are run by Centris Industrial and externally managed by Outrigger Industrial.
Generation Park I & II, located in Houston, consists of two buildings totalling 1.28 million square feet. Falcon II, situated in Oakwood, Atlanta, Georgia, comprises three buildings totalling 496,195 square feet. Both projects have recently been completed and are in various stages of lease-up.
Barings has provided a $96.96 million loan for Generation Park I & II, and a $39.5 million loan for Falcon II. The financings are intended to expand the partnership between Barings and Outrigger's management team, which has a history of success in the development and operation of industrial and logistics assets.
Tom Cross, Managing Director for Barings, expressed his excitement about providing financings for Outrigger, stating, "Both Houston and Atlanta are dynamic markets, and we are thrilled to support Outrigger in their continued success." He also looks forward to deepening Barings' partnership with Outrigger's management team.
The new supply in both Houston and Atlanta is being curtailed and absorbed, making these markets attractive for investment. This deal expands Barings' real estate debt platform to 23.79+ billion, further solidifying its position in the industry.
However, it is worth noting that the specific advisors for Barings' recent financing for Generation Park I & II in Houston, Texas, and Falcon II in Oakwood (Atlanta), Georgia, have not been detailed in the available information.
This investment marks another successful collaboration between Barings and Outrigger, promising continued growth and success in the industrial and logistics sector.
The financing for the industrial and logistics projects, Generation Park I & II in Houston and Falcon II in Atlanta, was advised by CBRE's representatives Steve Roth and Bill Jurjovec. This investment in real-estate is part of Barings' strategy to expand its partnership with Outrigger's management team, focusing on investing in business ventures within the industry and finance sector.
