Barings Provides $136 Million Financing on Two Industrial Projects for Outrigger Industrial in Atlanta, GA and Houston, TX
Barings, one of the world's largest diversified real estate investment managers, announced today that it has provided a $96.96 million loan for Generation Park I & II in Houston, Texas and a $39.5 million loan for Falcon II in Oakwood (Atlanta), Georgia to refinance these newly built industrial properties. Owned by Centris Industrial, Inc. and externally managed by Outrigger Industrial ("Outrigger"), these projects recently completed and are in various stages of lease up.
"We're excited to provide these financings for Outrigger and look forward to deepening our partnership with Outrigger's management team, expanding on their decades of success in the development and operation of industrial and logistics assets," said Tom Cross, Managing Director for Barings. "Both Houston and Atlanta are dynamic markets with new supply being curtailed and absorbed."
The properties were built to modern specifications in strong distribution and logistics markets to accommodate a wide range of tenants. Generation Park I & II consists of two buildings totaling 1.28 million SF and Falcon II consists of three buildings totaling 496,195 SF.
Steve Roth and Bill Jurjovec of CBRE advised the sponsorship on the financing.
This transaction expands Barings' 23.79+ billion* real estate debt platform, which leverages the team's broad direct origination capabilities and deep credit expertise to invest in loans secured by institutional-quality commercial real estate.
About Barings
Barings is a $442+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions.
*As of March 31, 2025
About Outrigger Industrial, LLC:
Outrigger Industrial, LLC is a joint venture partnership between co-owners and managing members of PTLR, LLC (Podboy, Trinkle, Lu, and Rowley) and co-owners and investment firms Davidson Kempner Capital Management and Monarch Alternative Capital. Outrigger Industrial is strategically designed to invest in and develop industrial opportunities including ground-up development and value-add projects across the United States. The company is focused on infill and other high barriers to entry submarkets in major cities which exhibit strong macroeconomic and real estate fundamentals. Outrigger Industrial has offices in Chicago, Los Angeles, Houston, Atlanta, Philadelphia, and Columbus. For more information, please visit www.outriggerindustrial.com.
About Centris Industrial:
Centris Industrial ("Centris") is an externally managed private real estate investment trust (REIT), comprised of investment funds advised by Davidson Kempner Capital Management LP ("Davidson Kempner"), Monarch Alternative Capital LP ("Monarch") and Long Pond Capital LP ("Long Pond"). The REIT was created to strategically invest in ground-up industrial and logistics projects across the United States. For more information, please visit www.centrisindustrial.com.
About CBRE
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world's largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
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