Pearlmark Mezzanine Realty Partners V LP
09/04/2025 | Press release | Archived content
Pearlmark, Vigavi Realty, and Ley Wilson Close on Houston, Texas Logistics Center Development
Chicago, IL (September 4, 2025) - Pearlmark, in partnership with Vigavi Realty and Ley Wilson Development (collectively, "Sponsorship"), closed on a joint venture to develop Wallisville Logistics Center (the "Property"), a 262,612 sq. ft. to-be-built two-building industrial park in Houston, Texas. The site is situated one-half mile from Beltway 8 offering excellent connectivity to Interstate 10, the Houston Ship Channel, the Port of Houston's container terminals, and George Bush Intercontinental Airport.
The Property will be designed to modern standards as a Class-A, tilt-wall facility featuring 32' clear heights, ESFR sprinklers, and 130' truck courts with ample employee parking. Additionally, Sponsorship plans to deliver the space with speculative tenant improvements including office, lighting, and dock packages to enable accelerated occupancy for tenants. The buildings are designed to accommodate tenants of varying sizes, targeting the most active size ranges in the market. Each building, at 135,000 SF and 128,000 SF respectively, is designed with flexible configurations to accommodate a single tenant or multiple tenants.
Wallisville Logistics Center is proximate to Beltway 8, a highly sought-after transportation corridor that loops around the entire city of Houston and connects all major industrial submarkets. The site offers superior accessibility, including a protected left-turn entrance, and convenient access to a broad labor pool, making it ideally positioned for modern industrial users.
Amegy Bank provided construction financing, led by Hannah Murphy, and arranged by Jones Lang Lasalle ("JLL"). Additionally, JLL's Trent Agnew arranged the equity capital and Richard Quarles, Senior Managing Director within JLL Houston's industrial services group, will lease the project.
The project is the eleventh investment in Pearlmark's recently closed equity fund, Pearlmark Equity Partners II, L.P. ("PEP II") and the sixth industrial investment in the portfolio. PEP II is actively investing in the middle market value-add space across the U.S.
"We are thrilled to partner with Vigavi, a Houston based developer with a strong track record, in a market that has seen continued growth over the past several years. This project represents an exciting opportunity to deliver well-located, high-quality industrial space that meets the evolving needs of today's tenants," said Erin Sullivan, Vice President and lead executive on the transaction for Pearlmark.
Stephen Quazzo, CEO for Pearlmark, also commented, "Houston's unique demand drivers are intact and supportive of industrial demand, which includes the major port, U.S.-leading population growth, along with a robust manufacturing sector and petrochemical industry. While Houston has seen an increase in bulk industrial development over the last several years, the most active segment of the market has been and is expected to continue to be in product that caters to medium-sized users."
The Property will be designed to modern standards as a Class-A, tilt-wall facility featuring 32' clear heights, ESFR sprinklers, and 130' truck courts with ample employee parking. Additionally, Sponsorship plans to deliver the space with speculative tenant improvements including office, lighting, and dock packages to enable accelerated occupancy for tenants. The buildings are designed to accommodate tenants of varying sizes, targeting the most active size ranges in the market. Each building, at 135,000 SF and 128,000 SF respectively, is designed with flexible configurations to accommodate a single tenant or multiple tenants.
Wallisville Logistics Center is proximate to Beltway 8, a highly sought-after transportation corridor that loops around the entire city of Houston and connects all major industrial submarkets. The site offers superior accessibility, including a protected left-turn entrance, and convenient access to a broad labor pool, making it ideally positioned for modern industrial users.
Amegy Bank provided construction financing, led by Hannah Murphy, and arranged by Jones Lang Lasalle ("JLL"). Additionally, JLL's Trent Agnew arranged the equity capital and Richard Quarles, Senior Managing Director within JLL Houston's industrial services group, will lease the project.
The project is the eleventh investment in Pearlmark's recently closed equity fund, Pearlmark Equity Partners II, L.P. ("PEP II") and the sixth industrial investment in the portfolio. PEP II is actively investing in the middle market value-add space across the U.S.
"We are thrilled to partner with Vigavi, a Houston based developer with a strong track record, in a market that has seen continued growth over the past several years. This project represents an exciting opportunity to deliver well-located, high-quality industrial space that meets the evolving needs of today's tenants," said Erin Sullivan, Vice President and lead executive on the transaction for Pearlmark.
Stephen Quazzo, CEO for Pearlmark, also commented, "Houston's unique demand drivers are intact and supportive of industrial demand, which includes the major port, U.S.-leading population growth, along with a robust manufacturing sector and petrochemical industry. While Houston has seen an increase in bulk industrial development over the last several years, the most active segment of the market has been and is expected to continue to be in product that caters to medium-sized users."
About Pearlmark
Pearlmark is a Chicago-based investment firm that targets domestic core-plus to value-add real estate opportunities via commingled funds, separate accounts, and joint venture structures. Since 1996, the Pearlmark team has sponsored more than 15 real estate equity and debt investment programs and completed 604 real estate equity and debt transactions on behalf of investors, representing $6.3 billion in equity capital commitments, $14.7 billion in gross investment value, and 173 originated loans aggregating over $2.3 billion in commitments. Pearlmark is dedicated to creating value for its investors and offers a range of investment opportunities nationwide across various property types (primarily industrial and multifamily). For more information, please visit https://www.pearlmark.com.About Vigavi Realty
Founded in 2009, Vigavi Realty is a privately held industrial real estate investment and development firm headquartered in Houston, Texas. Vigavi focuses on speculative and build-to-suit development, along with strategic land investments, and has developed across all primary submarkets throughout the greater Houston market.About Ley Wilson Development
Founded by David Ley and Michael Wilson, Ley Wilson Development has been active in the Houston real estate market since 2001. The company has developed and sold over $320 million worth of retail projects and more than 2,000 single-family residential lots.
Pearlmark Mezzanine Realty Partners V LP published this content on September 04, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 23, 2026 at 06:11 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]