CIM Arranges Refi for 533K-SF Houston Warehouse Portfolio

CIM Group has closed a $57.5 million whole loan to Creation Equity and PGIM Real Estate to refinance a four-building, 533,000-square-foot industrial property portfolio in Northwest Houston.

Completed in May 2024, the portfolio consists of Houston Point 290, a three-building complex located at 9210 Highway 6 N, and Cypress Creek Distribution Center, located at 9580 Cypress Creek Parkway. The in-fill developments in Northwest Houston are in a mature industrial market convenient to the Port of Houston, which is one of the fastest-growing U.S. port operations.

The buildings offer the in-demand features for modern industrial facilities, including 32-foot clear heights, spacious truck courts, drive-in doors and ample parking with a total of 593 spaces.

Through mortgage and mezzanine loans, affiliates and managed funds, CIM Group provides bridge and construction financing to owners and developers of commercial real estate in major markets across the United States and works with borrowers to offer an array of lending solutions.