- Mar 16
- 1 min read
Sustainable Credit Partners (SCP), in partnership with Climate First Bank, announces the closing of an $8,350,000 first mortgage loan to finance the acquisition and repositioning of 2307 Business Center Drive, a 62,750-square-foot industrial warehouse located in Austin, Texas.
The property is being acquired by Portal Warehousing. Upon completion of a planned renovation, the facility will be repositioned as a commercial storage warehouse under the Portal Warehousing brand, offering flexible, right-sized industrial suites ranging from 250 to 2,500 square feet for e-commerce brands, small and mid-sized businesses, logistics operators, and enterprise users. The property's infill location, within a 10-minute drive of Austin-Bergstrom International Airport, provides strong, captive demand for the last-mile distribution and fulfillment users the Portal model serves.
Planned improvements include LED lighting upgrades, high-efficiency HVAC replacements, and dock door insulation. SCP's technical assistance partner GreenGen determined the improvements satisfy SCP's Green Loan Principles Framework.
"This is SCP's first retrofit financing, and we worked closely with the borrower to demonstrate the ROI on investing additional capital in LED lighting and HVAC replacements, two upgrades that meaningfully cut operating costs while building long-term asset value." - Joe Stevens, Founding Partner, Sustainable Credit Partners.
"This deal reflects exactly what SCP was built to do: deploy capital into assets where a credible value-add business plan and a clear path to energy efficiency converge. The Portal Warehousing model addresses a real gap in the market for flexible, operational space. - Robert Zulkoski, Founder and CEO, Sustainable Credit Partners.
Cushman & Wakefield arranged the financing on behalf of the Sponsor.
