CMC Railroad, LLC, the railroad partner of the Gulf Inland Logistics Park in Houston, said it had closed on an $87.9 million credit facility to help with the expansion of its operations there.
The credit facility is with the Bank of Texas, the railroad said. The new facility refinances CMC’s existing debt and supports additional rail infrastructure, transload capabilities, and approximately 1,100 new railcar storage spaces.
“This strategic financing comes at a time when it is critical to meaningfully expand infrastructure and operations at Gulf Inland Logistics Park,” Marcus Goering, principal at CMC Railroad, said. “With Phase One of development complete, demand continues to grow for Phase Two and the continued advancement of Gulf Inland and CMC Railroad facilities.”
CMC Railroad provides rail switching, railcar storage, and related rail services to tenants and customers at Gulf Inland Logistics Park. CMC’s operations are crucial to the park’s rail-served industrial platform and supports the transportation, storage and supply chain requirements of businesses that have selected the park for their operations.
Phase One of the park welcomed seven tenants to the park, generating more than 400 new jobs and $250 million in capital investment. As development moves to Phase Two, the park expects continued investment into the park’s infrastructure and rail capabilities will support future tenant growth and strengthen the park’s position as a key logistics and industrial hub.
“Bank of Texas is excited to support CMC Railroad through this new credit facility,” George Sarvadi, Relationship Manager at Bank of Texas, said. “The Bank is committed to supporting rail infrastructure development in Houston and is thrilled with the work CMC is doing to provide essential rail services to the region. This financing will help position the company for continued growth while supporting critical transportation infrastructure that serves Gulf Inland Logistics Park, its tenants, and the broader Houston industrial market.”