MDH Partners Secures $17.8M Loan From Regions Bank For 71 Logistics Center In Austin

MDH Partners has secured $17.8 million in financing from Regions Bank for the construction of the 71 Logistics Center, a 216,000 square-foot industrial building located at State Highway 71 and Norwood Lane in Austin. The development site spans across 45 acres in a prime location near Austin-Bergstrom International Airport. This acquisition marks MDH Partners' fourth purchase in Texas this year, as they continue to expand their presence in thriving local economies with strong population growth.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $17,800,000
• Market: Austin
• Size: 216,000 square feet
• Acres: 45
• Lender: Regions Bank - Thomas Pendergrast
• Landlord: MDH Partners - Matt Gregory & John Kull
• Broker: Chris Drew - JLL

Thomas Pendergrast from Regions Bank facilitated the financing of $17.8 million for the construction of the 71 Logistics Center. Matt Gregory and John Kull represent MDH Partners as the landlords of this development site. Chris Drew from JLL acted as the broker in this transaction, bringing together the lender and the landlord to finalize the deal.