PCA Arranges Loan for Refinancing of Industrial Outdoor Storage Facility in South Austin

AUSTIN, TEXAS — Priority Capital Advisory (PCA), a Los Angeles-based financial intermediary, has arranged a loan of an undisclosed amount for the refinancing of Chapman 71, an industrial outdoor storage (IOS) facility in South Austin. Built in the 1970s, the property consists of seven buildings on a 13-acre site at 5001 E. Ben White Blvd. Building features include 12 dock-high doors, 23 grade doors, 25 parking spaces and 16- to 25-foot clear heights. An undisclosed bank provided the nonrecourse financing to the owner, Austin-based PlaceMKR, which will use the proceeds to cash out and recapitalize the property. Chapman 71 was fully leased at the time of the loan closing.