CIM Group Provides $57.5M Refinance Loan To Creation Equity And PGIM Real Estate For Industrial Portfolio In Houston

9210 North Highway 6 & 9580 Fm 1960 West

$57,500,000

$53/SF

Building Size

1,066,000 SF

Asset Type

Industrial

Closing

Feb 24, 2025

AI

A $57.5 million loan was provided to refinance a 533,000-square-foot, four-building industrial portfolio located at 9210 North Highway 6 & 9580 Cypress Creek Parkway in the Houston market. The portfolio includes properties known as Houston Point 290 and Cypress Creek Distribution Center, which feature modern industrial amenities and are strategically positioned near major thoroughfares Route 6 and Route 290 for access to the Port of Houston.

Summary of transaction details:

Property Type: Industrial
Transaction Amount: $57,500,000
Lender: Shaul Kuba, Richard Ressler & Avi Shemesh - CIM Group
Landlord: David Sellers & Bob Agahi - Creation Equity; Cathy Marcus - PGIM Real Estate
Loan Type: Refinance

This transaction involved key individuals from various firms, with Shaul Kuba, Richard Ressler, and Avi Shemesh representing CIM Group in the lending aspect. Creation Equity's landlords, David Sellers and Bob Agahi, along with Cathy Marcus from PGIM Real Estate, are notable participants in this refinancing deal for the industrial portfolio.

Players