LNG Vendor Pursuing $240M Galveston Facility
Why this matters
Commercial real estate continues to digest a multi-year reset in cost of capital. Transaction velocity is below the 2019-2021 trend but improving, cap rates have stabilized across most stabilized property types, and the bid-ask gap has narrowed materially in the past two quarters. Sponsors with permanent capital and operating platforms have an advantage in the current execution environment. The next twelve months will continue to reward underwriting discipline and operational sophistication over balance-sheet aggression.
Editorial analysis · Real Estate Trail Editorial
Power LNG is advancing Project Seawolf, a $240 million liquefied natural gas production and fueling facility planned for Pelican Island in Galveston. Power LNG will lease about 30 acres of port-owned property for an i…
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