Outrigger Industrial, which sponsors and manages Centris Industrial, landed $96.9 million for a project at Generation Park north of Houston. Generation Park I & II consists of two buildings totaling 1.28 million square feet. Outrigger sought the refinancing to replace an existing construction loan, secure longer terms and lock in a favorable rate.
Barings provided the loan, expanding its real estate debt platform to nearly $24 billion.
Steve Roth and Bill Jurjovec of CBRE advised the sponsorship on the financing.
Outrigger Industrial is a joint venture partnership between co-owners and managing members of PTLR, LLC (Podboy, Trinkle, Lu, and Rowley) and co-owners and investment firms Davidson Kempner Capital Management and Monarch Alternative Capital.
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