PCCP Provides $72 Million For Houston Industrial Portfolio

PCCP has provided a $72 million senior loan to Fort Capital for the acquisition and lease-up of light industrial assets within the greater Houston market. The portfolio consists of seven multi-tenant properties totaling 711,399 square feet (sf) across 23 buildings.  

The portfolio is 76% leased to 125 tenants ranging from 833 sf to 24,439 sf with an average suite size of 5,000 sf.  The buildings within the portfolio have a variety of dock-high and semi doors attracting a diversity of tenants and industries that are seeking office, warehouse, storage, and showroom space.

PCCP’s Sarina Strickland likes the assets “This portfolio’s infill locations are highly sought after by tenants and are within a strong industrial market that has been experiencing low vacancy and limited new infill supply.” 

Founded in 2005, Fort Capital is one of the largest owners of flex/light industrial space in Houston with a current portfolio totaling 5 million sf across the nation.