Affinius Capital Provides $94M Refi for Dallas-Area Industrial Property – Commercial Observer
Hillwood, a real estate firm founded by former Independent presidential candidate Ross Perot, has secured a $94 million loan to refinance an industrial property in the Dallas-Fort Worth region, Commercial Observer can first report
Affinius Capital supplied the loan for three warehouse facilities encompassing 1.2 million square feet at Crossroads Logistics Park in Midlothian, Texas. Proceeds from the loan will be used to facilitate continued lease-up of the property, comprising Buildings 1, 2 and 4, that were built in 2023.
“Based on our experience in the industrial sector, Crossroads Logistics Park offers the scale, functionality and connectivity that today’s industrial users require in what we believe is one of the country’s most important distribution markets,” Costa Kontoulis, managing director at Affinius Capital, said in a statement. “With three newly built facilities and strong access across the Dallas-Fort Worth region, we see a compelling opportunity to support Hillwood as it advances the property through lease-up and stabilization.”
JLL arranged the transaction with a capital markets team consisting of Trey Morsbach, John Rose, Jarrod McCabe, Ryan Pollack, Chad Lisbeth and Scott Harbert.
Located at 1011 John Clark Road, 28 miles southwest of Downtown Dallas, Crossroads Logistics Park benefits as an industrial property from its access to major highways including Interstate 20 and Interstate 35, according to Affinius. It is also 33 miles south of Dallas-Fort Worth International Airport.
Hillwood did not immediately return a request for comment.
Andrew Coen can be reached at acoen@commercialobserver.com.
