This Week’s Houston Deal Sheet

Floor and Décor Outlets of America Inc. purchased 99.3 acres at TGS Cedar Port Industrial Park to build a 1.5M SF distribution center.

Courtesy of NAI Partners
An Aerial View Of The Location Of Floor & Décor's New Distribution Center Within Tgs Cedar Port Industrial Park In Baytown.

Floor & Décor closed on the property in December and started construction of the building pad shortly after, with the goal of reaching completion by the end of 2021. The cross-dock distribution center will service the south-central U.S.

TGS Cedar Port Industrial Park is the largest master-planned, rail-and-barge-served industrial park in the U.S. and offers access for distribution, manufacturing and terminal operations. Cedar Port has more than 16M SF of industrial and manufacturing warehouses existing or under construction. The park includes end users such as Walmart, Ikea, Home Depot, Ravago, Vinmar, PBP and DHL.

NAI Partners represented the buyer. The seller was TGS Cedar Port Partners LP.

SALES

Courtesy of Shaw Commercial Properties
The industrial property at 1713 Townhurst Drive in Spring Branch, within the Town & Country Business Park.

Supermercados Teloloapan Management Co. purchased 31.8K SF of industrial space at 1713 Townhurst Drive in Spring Branch, within the Town & Country Business Park. The property will be used as the buyer’s headquarters. Rice Realty Group represented the buyer, while Shaw Commercial Properties represented the seller, Bone Properties Inc.

FINANCING

Courtesy of Berkadia
The Henry at Liberty Hills apartment community at 15330 Liberty River Drive in Houston.

Berkadia has arranged debt financing and secured an equity partner for the acquisition of The Henry at Liberty Hills, formerly known as SYNC at Liberty Hills, a 228-unit luxury garden-style community at 15330 Liberty River Drive. Built in 2012, The Henry at Liberty Hills has one-, two- and three-bedroom units. Community amenities include a business center, conference room, game/media room, swimming pool, fitness center and bark park.

Berkadia originated a Freddie Mac 10-year, floating-rate loan along with a preferred equity investment to facilitate the purchase of the asset. Berkadia’s Cutt Ableson and Colin Marusak arranged debt and equity financing on behalf of the sponsor, Momentum Multifamily, a Dallas-based investment group.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Houston Newsletters
Related Stories

Democrat Letitia Plummer Wins Harris County Judge Election

Texas Flips Blue, Putting Data Center Boom On Notice

Developer Picks Up Industrial Site, Plots 1.3M SF Development: The Chicago Deal Sheet

BioMed Sells Cambridge Office At A Loss: The Boston Deal Sheet

2.7M SF Campus Trades In Houston's Largest Industrial Sale

Piedmont Realty Exiting Houston Market With Office Dispositions

Supertall Assemblage Comes Together At Long-Vacant Midtown Site: The N.Y. Deal Sheet

Kast Construction Names New CEO: The South Florida Deal Sheet

Ceutical Laboratories To Move HQ To Lewisville: The DFW Deal Sheet

Nord Group's Lawyer Moves To Quit, Says Entities Can't Pay Him

Rexford Sells Fullerton Industrial Building For $50.2M: The Los Angeles Deal Sheet

Orchard Partners Selects JLL To Market 892K SF Manufacturing Campus In Brisbane: The San Francisco Deal Sheet