Palladius Capital Management Provides $26M Financing For Texas Logistics Park
Denholtz Properties takes control of a two-building industrial park exceeding 213,000 square-feet near Austin, Texas.
By Brian Pascus May 10, 2024 11:44 am
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Denholtz Properties has secured $26.1 million in financing to acquire Clovis Baker Logistical Park, a two-building industrial park exceeding 213,000 square feet in San Marcos, Texas.
Palladius Capital Management provided the loan, while a JLL Capital Markets team of Michael Klein, Jon Mikula, Michael Johnson and John Beeler arranged the financing on behalf of the sponsor.
In a statement, JLL’s Johnson called Denholtz Properties’ acquisition of the site “an excellent opportunity” to take advantage of a growing submarket that other sponsors have eschewed during a time of market volatility. He also praised Palladius Capital Management.
“Amidst current market volatility, it was imperative for us to work with a financing partner who could provide certainty of execution,” said Johnson. “Palladius Capital Management stepped in as an exceptional partner, delivering the necessary stability and confidence to navigate the current market conditions.”
Located at 1603 Clovis Baker Road, Clovis Baker Logistal park sits just off Interstate 35 roughly midway between Austin and San Antonio. Both cities are less than 50 miles away.
All told, the enormous population centers of Houston, Dallas-Fort Worth, Austin and San Antonio provide the logistics center with a population base of more than 25 million potential customers just a few hours away.
Built in 2024, the two-building, shallow-bay logistics space features 32-foot clear heights and is specifically designed to serve small businesses, with average unit sizes reaching 40,000 square feet. The two buildings span a total of 213,817 square feet.
Freehill Company was the previous owner of the property and sold to Denholtz Properties on April 17, 2024.
Brian Pascus can be reached at bpascus@commercialobserver.com
