Origin Bank Provides Financing for State-of-the-Art Mitsubishi Caterpillar Construction Equipment Center
HOUSTON – Origin Bank is pleased to announce the financing of a state-of-the-art manufacturing and distribution center, located in the Conroe Industrial Park north of Houston, as part of a joint venture between Mitsubishi Caterpillar Forklift America, Inc. and Jungheinrich AG. This business transaction expands Origin Bank’s portfolio of services in Houston to now include commercial and industrial development projects. Additional specific terms of the deal were not made public upon its contract finalization.
Development and construction of the 71,000 square foot manufacturing and distribution facility, housed on 10 acres of property, is slated to begin immediately. The developer of the project, Archway Properties, has extensive experience in the build-to-suit markets.
“We are excited to be working with Origin Bank and bringing significant economic development opportunities to Conroe Industrial Park and the greater Houston area,” said Donald Dennis of Archway Properties. “We look forward to fully developing this project and serving members of this business community and related industries.”
The builder for the project is ARCO Design. With headquarters in St. Louis, ARCO has been in business since 1992 and has completed more than $4 billion of industrial projects. Origin Bank has been actively growing its emerging Houston market share with nine current locations in the region.
“Origin Bank has had a long history of providing commercial real estate financing in industrial projects across its tri-state footprint,” said Origin Bank Senior Vice President Jody Proler. “Our Woodlands Banking Center will be a major source of support toward this development, including financing the joint venture between Mitsubishi Caterpillar and Jungheinrich AG.”
First opening its doors in 1912, Origin Bank now has over 40 banking center locations throughout north Louisiana, Texas and Mississippi and assets of $4 billion.
Construction of the manufacturing and distribution center is projected for completion in 2017.
About Origin Bank
Origin Bank, formerly Community Trust Bank, is a more than century old, Louisiana-chartered bank which provides a wide range of traditional banking services with more than 40 banking centers throughout Louisiana, Texas and Mississippi. Origin Bank is a wholly-owned subsidiary of Origin Bancorp, Inc., a financial holding company with assets of over $4 billion. Origin Bancorp’s common stock is not listed on any exchange and is traded through individually negotiated transactions. Member FDIC. To learn more, visit Origin Bank’s website at originbankonline.com.