C2R Capital acquired a defaulted senior secured commercial real estate note portfolio collateralized by three industrial properties across the Houston MSA.

The collateral consists of three industrial properties totaling 43,400 square feet on 12.75 acres. The portfolio includes vacant warehouse/flex assets and one leased property with ongoing rental income, creating both stabilization upside and near-term cash-flow support.

C2R acquired the notes at a discount to the outstanding balance and implemented a structured forbearance strategy with interest reserves, a defined workout period, and additional collateral support. The structure was designed to give the borrower time to refinance, sell assets, or stabilize the portfolio while preserving C2R's senior secured position.

This transaction reflects C2R's special situations capabilities across note purchases, workouts, and collateral-driven debt strategies where basis, control, and execution path are central to the credit.