CBRE has arranged a $17.35 million construction loan on behalf of Constellation Real Estate Partners and their partner, a large insurance company, for the development of a 240,041-square-foot speculative industrial facility in Pasadena, Texas, a key submarket within the Greater Houston area.

The CBRE Capital Markets’ Debt & Structured Finance team of Brian Linnihan, Mike Ryan, Richard Henry, and Taylor Crowder sourced the financing from Texas Capital Bank. The non-recourse construction loan will fund the development of Constellation Genoa Red Bluff, located at 2543 Genoa Red Bluff Road.

Strategically positioned in Houston’s Southeast submarket, an area characterized by limited land availability, the project is poised to meet growing demand for Class A industrial space in one of the metro’s most supply-constrained corridors.

The project will feature modern industrial specifications tailored to logistics and distribution users, including high clear heights, ample dock-high loading, and trailer parking. Construction is expected to begin in Q3 of 2025 and is scheduled to deliver in 2026.