MDH Secures $90M Loan for Houston Industrial Acquisition
MDH Partners has closed on $90 million in financing from Wells Fargo, expanding an existing $93 million loan MDH has used in making its recent acquisitions of the 603,389-square-foot South Belt Central Building 4 in Houston and another out-of-state property.
South Belt Central Building 4 was completed earlier this year by Investment & Development Ventures, of Houston, according to CommercialEdge.
The loan is part of MDH’s Fund II, which builds on $750 million of equity to create $2 billion in acquisition power. The fund includes a mix of large university endowments and foundations and was raised in just two months.
So far this year, MDH Partners has acquired nearly 5 million square feet of industrial assets throughout the U.S. In April, the company acquired Fort Worth Logistics Hub Building 1, a 670,914-square-foot industrial building in Fort Worth, Texas, from VanTrust Real Estate for $67.5 million.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.