Grandview Partners & TRG Development Secure $99.8M Loan For Core45 Industrial Park In Wilmer

The property asset involved in this transaction is the Core45 industrial park located at 1690-1700 East Pleasant Run Road in Wilmer, Texas. It comprises two industrial buildings totaling 1,640,000 square feet and is part of a recent development that has been completed. The property is currently 18% pre-leased to Owens Corning and situated near the Union Pacific Intermodal Dallas Terminal.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $99,800,000
• Lender: Brian Buffone - Benefit Street Partners
• Landlord: Grandview Partners & TRG Development
• Brokers: Billy Coyle, Brian Share, James Carpenter, Jud Clements, Max Schafer, Michael Zelin, Nikola Kretschmann, Robby Rieke, Robert Rubano & Trevor Berry - Cushman & Wakefield
• Loan Type: Construction

A joint venture between Grandview Partners and TRG Development has secured financing for the Core45 industrial park, facilitating its operational readiness. The financing arrangement involves a loan amount of $99.8 million specifically for takeout construction purposes, contributing to the successful launch of the development.