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$15,900,000 Acquisition, CapEx & TI/LC Financing
Houston, TX | August 2021
Thorofare Capital has funded $15.9 million in acquisition, renovation and TI/LC financing for 4414 Hollister, a 234,215 SF industrial warehouse located
The property is located in the Northwest Industrial sub-market of Houston, 8.5 miles from the Houston CBD and 14.5 miles from The Port of Houston. The Houston Industrial market is experienced unprecedented growth from the surge in the City’s population, growing e-commerce consumer demand and the expansion of the Port of Houston.
The sponsor’s business plan includes a renovating the property, improving the mechanical systems and reducing the office space area to add additional warehouse space. In addition, the site includes 1.5 acres of lease-able land that will be paved for parking and storage.
Situated on a 14.71-acre site, 4414 Hollister was built in 1987 and expanded in 1996, and features 22’ clear heights with 25 dock-high doors.
The financing includes a 45-month total loan term with a future-funded renovations and TI/LC facility, flexible prepayment provisions and a competitively-priced interest rate.
The sponsor is a private investor based in Austin, with a focus on value-add industrial and office opportunities in Texas.