loans

ARLINGTON, TEXAS — CBRE Capital Markets’ debt and structured finance team has arranged financing for the Pioneer 360 portfolio in Arlington. CBRE worked on behalf of LaSalle Investment Management to arrange the $38 million non-recourse loan. The nine-year, interest-only loan has a fixed rate of 3.8 percent and was secured through one of CBRE’s life company relationships. The Pioneer 360 portfolio consists of three warehouse and distribution facilities totaling 1.2 million square feet of rentable space. The buildings are 100 percent leased to 13 tenants. The Class A assets are LEED Gold-certified and have clear heights ranging from 24 to 35 feet. Pioneer 360 was completed in 2009 using tilt-up construction on a site formerly occupied by Forum 303 Mall. The portfolio is located in the Great Southwest submarket, providing access to I-30, I-20, State Highway 360, State Highway 161 and DFW International Airport. Scott Lewis, Greg Greene and Matt Ballard of CBRE’s Dallas office originated and secured the financing on behalf of the borrower.

TYLER, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA), a financial intermediary, has raised a $5 million joint venture equity investment to fund the acquisition of a vacant 536,000-square-foot industrial complex in Tyler. The complex was formerly owned and occupied by Carrier Corp., who sold the property after relocating the plant to Monterrey, Mexico. The property was acquired by a Tyler-based partnership sponsored by Buster Fitzgerald and Jerry Tate. After closing on the purchase in May, the new ownership completed a lease with Trane, a provider of HVAC and building management systems. Trane will initially occupy 100,000 square feet of the property with a takedown schedule to eventually occupy the majority of the complex. Scott Lynn and Brandon Wilhite of MCA arranged the $5 million equity investment with Dallas-based Provident Realty Advisors.