New York – Fortress Investment Group today announced that funds managed by its affiliates ("Fortress") have closed a $265 million senior loan to finance the acquisition of Northwoods Business Park, a 2.8 million square feet crane- and rail-served industrial manufacturing park located in northwest Houston, Texas.
The financing supports the acquisition of the site by a joint venture between Adkisson Group and PCCP, LLC (collectively, the "Sponsor"). Adkisson Group is a Houston-based, vertically integrated industrial real estate developer and investor with an in-house construction and property management platform. PCCP, LLC is a Los Angeles-based real estate investment management and finance firm that invests across the capital structure in commercial real estate debt and equity. The financing was arranged by IPA.
Northwoods Business Park, developed over more than 45 years, comprises 69 buildings on a 250-acre site in an infill northwest Houston location, served by on-site overhead cranes and bordered by an active rail line. The park is approximately 96% leased to a diverse base of tenants in manufacturing, metal fabrication, and other industrial and construction-support businesses.
The site’s crane-served buildings are designed to serve especially heavy-load trucks and crane systems, including metal beam construction, thick foundation slabs, and mostly grade-level doors.
Proceeds from the financing support the Sponsor's acquisition of the property and planned capital improvements, including the development of two additional crane-served buildings.
"Northwoods Business Park is unique, functional industrial product and stands in one of the strongest and tightest manufacturing submarkets in the country," said Raymond Hu, Director at Fortress Investment Group. "We're pleased to support Adkisson Group and PCCP with this financing. Their teams’ experience in the industrial space and the clear business plan for the property give us confidence that this financing reflects a compelling opportunity for our investors."
“Closing on Northwoods Industrial Park is a testament to our team's talent and to Adkisson's commitment to excellence. This milestone sets the stage for our next chapter of growth and to continue creating lasting value for our employees, investors and community, Adkisson is also excited to partner with PCCP as equity partner and Fortress as our lending partner,” said Arturo Creixell, President of Adkisson Group.
“PCCP is pleased to partner with Adkisson Group, an experienced Houston-based industrial developer, on the acquisition of Northwoods Business Park,” said Brad Hartstein, Senior Vice President at PCCP. “We believe the property's strong history of occupancy, limited competing supply, and growing demand for crane-served manufacturing space in Northwest Houston provide an attractive opportunity to capture rental upside and create long-term value.”
“Northwoods Industrial Park represents a generational acquisition for The Adkisson Group, and we’re proud to have arranged the debt and equity to bring this investment to fruition,” said Cullen Atchison, Managing Director, Capital Markets at IPA. “We structured the capital to support our client’s ownership vision and position the property for lasting success. Ultimately, The Adkisson Group chose capital partners it believed were best aligned with its long-term goals for the asset. Fortress provided a strong financing solution and was excellent to work with during the closing process.”
About Fortress Investment Group
Fortress Investment Group LLC is a leading, highly diversified global investment manager serving institutional clients and private investors worldwide. Founded in 1998, Fortress manages $55 billion of assets under management as of June 30, 2026, across a range of credit and real estate, private equity and permanent capital investment strategies. AUM refers to assets Fortress manages, including capital that Fortress has the right to call from investors, or investors are otherwise required to contribute, pursuant to their capital commitments to various funds or managed accounts.
About Adkisson Group
Adkisson Group is a privately held real estate investment, development and construction firm focused on identifying opportunities and creating value in the industrial real estate sector. Through its integrated approach to real estate, the company combines strategic land acquisition, property development, general contracting, and construction management to deliver quality industrial projects throughout the Greater Houston market.
About PCCP
PCCP is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has over $30.1 billion in assets under management on behalf of institutional investors as of June 30, 2026. With offices in New York, San Francisco, Los Angeles, Atlanta, and Seoul, PCCP has a 28-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has managed, raised or invested over $50.4 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with experienced operators seeking fast and reliable capital. Learn more about PCCP at www.pccpllc.com.