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Clarion Partners Real Estate Income Fund (NASDAQ: CPREX) has announced its entry into the industrial outdoor storage (IOS) sector through two strategic moves: a first mortgage loan for an eight-property portfolio and the acquisition of an IOS property in Houston.
The mortgage loan supports a joint venture between Outour Storage Investments and Cerberus Capital Management, covering eight IOS properties spanning 2.3 million square feet (50+ acres) across seven major markets including Chicago, Phoenix, Las Vegas, Houston, Inland Empire, Dallas/Fort Worth, and Atlanta.
Additionally, CPREX acquired a 7.59-acre IOS site in Houston featuring a 23,294 square foot building, which is fully leased to a leading North American waste services company for approximately seven years. The property, located at 15550 Export Plaza Drive, underwent complete renovation in 2024 with Class A yard improvements and various facility upgrades.
Clarion Partners Real Estate Income Fund Inc. (NASDAQ: CPREX) has announced its entry into the senior housing sector through a debt investment in The Pearl at Boulder Creek, located in Boulder, Colorado. The property is a 116-unit, 165,900 square foot senior living facility situated adjacent to the University of Colorado Boulder campus.
The Pearl at Boulder Creek offers both independent and assisted living options with one- and two-bedroom units. The facility features premium amenities including an indoor pool, salon and nail spa, full-service dining room, bistro and pub, fitness center, art studio, and covered parking. Portfolio Manager Janis Mandarino expressed optimism about entering the senior housing sector, citing favorable demographic trends supporting demand for high-quality projects.
