Berkadia Secures $16.1M in Financing for Biomanufacturing Facility in Houston, Texas
Houston, Texas – December 10, 2024 – Berkadia announced today the financing of a 48,440 square foot biomanufacturing facility in Houston, Texas. Senior Managing Director and Head of Medical & Life Sciences Sabrina Solomiany, Director Patrick Abeln and Vice President – Originations Mike Cerny of Berkadia secured $16.1 million in refinancing on behalf of the owner, Houston-based KC Partners. The deal closed on November 22.
The five-year loan featured a fixed 6.7% interest rate, 30-year amortization schedule and 65% loan-to-value ratio.
“Kennedy Commerce is an attractive, highly specialized biomanufacturing facility that is well-located in a top 10 MSA. Through a competitive marketing process we were able to drive significant lender interest and deliver compelling long-term financing”, said Abeln.
Located at 4551 Kennedy Commerce Drive, the single-tenant biomanufacturing facility is 100% leased to CellReady, a cell and gene therapy (CGT) contract development and manufacturing organization.
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