**CIM Group Closes $57.5M Loan for Houston Industrial Portfolio Refinance**
CIM Group has finalized a $57.5 million whole loan to Creation Equity and PGIM Real Estate for the refinancing of a four-building, 533,000-square-foot industrial property portfolio in Northwest Houston.
Completed in May 2024, the portfolio includes Houston Point 290, a three-building complex at 9210 Highway 6 N, and Cypress Creek Distribution Center, located at 9580 Cypress Creek Parkway. These in-fill developments are positioned in a well-established industrial market, offering convenient access to the Port of Houston, one of the nation’s fastest-growing port operations.
The facilities feature highly sought-after specifications for modern industrial spaces, including 32-foot clear heights, expansive truck courts, drive-in doors, and ample parking with a total of 593 spaces.
Through mortgage and mezzanine loans, affiliates, and managed funds, CIM Group provides bridge and construction financing to commercial real estate owners and developers in major U.S. markets, tailoring lending solutions to meet the needs of borrowers.
