Updated Aug 31, 2026
Christen Vestal Of Provident Realty Advisors Secures $102 Million Loan For Port 99 Development In Baytown
$102,000,000
$75/SF
Building Size
1,350,000 SF
Asset Type
Industrial
Closing
Aug 21, 2026
About this deal
AI
The property asset involved is an industrial development located at Farm To Market Road 2354 in Baytown, Texas. It spans 1,350,000 square feet and encompasses 92 acres. The total loan amount secured for this project is $102,000,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $102,000,000
- Address: Farm To Market Road 2354
- Market: Baytown, TX
- Asset Size: 1,350,000 SF
- Land Size: 92 Acres
- Lender: PGIM& Bank OZK
- Landlord: Christen Vestal - Provident Realty Advisors
- Broker: NorthMarq
NorthMarq arranged the financing required for Provident Realty Advisors and Christen Vestal to develop Port 99 – Phase II, which will consist of a three-building Class-A industrial park. This project will feature cross-dock and front-load warehouses equipped with trailer parking. NorthMarq’s total capitalization effort for the Port 99 development exceeds $125 million across over 2.6 million square feet.
Market Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93