CBRE Arranges $61 Million Loan for New, 463K-SF Industrial Portfolio Acquisition

CBRE has arranged a $61.81 million loan to acquire a 463,486-sq.-ft. industrial portfolio containing four, recently completed facilities in the Dallas, Texas, and Nashville, Tennessee, metro areas. Bixby Capital Management, a leading commercial real estate owner, operator, and investment manager based in Newport Beach, California, bought the portfolio for $84,250,000 from an undisclosed seller.

Brian Linnihan, Mike Ryan, Richard Henry and JP Cordeiro with CBRE Capital Markets’ Debt & Structured Finance team in Atlanta secured the floating-rate, full-term interest-only loan from PCCP on behalf of the sponsor and buyer.

The portfolio includes Red River Business Park at 900 Arthurs Lane in Lewisville, Texas, and Alligood Building 3 at 200 Alligood Way in Lebanon, Tennessee – both of which were completed in 2024.

• Red River Business Park comprises three rear-load buildings totaling 241,104 sq. ft. and features 28’-32’ clear heights, 170’-210’ building depths, 64 dock-high doors, 6 drive-in doors, 130’ and 196’ shared truck courts, and 227 auto- and 4 trailer-parking spaces. Located at the intersection of I-35E and SH-121, the park provides quick access to either side of the DFW Metroplex and is just 12 minutes north of DFW International Airport. It was 56.2% occupied by three tenants at the time of financing.
• Alligood Building 3 is a 222,382-sq.-ft., rear-load facility with 2,500 sq. ft. of speculative office space, 32’ clear heights, 310’ building depths, 21 dock-high doors, 2 drive-in doors, and 136 auto- and 32 trailer-parking spaces. It is situated in the Alligood Industrial Park, which is located 0.4 miles from I-40, providing immediate access to the broader metro area, and 22 miles from downtown. The property was unoccupied at the time of financing.

“The portfolio’s new, Class A facilities have been met with high tenant interest resulting in recent leasing momentum,” said Brian Linnihan, a Vice Chairman at CBRE. “Moreover, its strong fundamentals and Bixby’s sound investment strategy allowed us to secure favorable financing terms with PCCP that will help bring the portfolio to full occupancy.”

New industrial leasing activity in the U.S. increased by 2.4% year over year in the first quarter of 2025, according to CBRE Research. Dallas-Ft. Worth absorbed the most industrial space in the quarter, recording net absorption of 4,023,199 million sq. ft. Nashville’s 886,092 sq. ft. of net absorption was four times greater than the inventory added to the market in the quarter, allowing for a fall in total vacancy.