JLL’s Capital Markets Group has arranged $381 million in construction financing for the development of Bronx Logistics Center, a Class-A, two-story, last-mile distribution facility totaling 1.3 million square feet in the Bronx, New York.
JLL worked on behalf of the developer, a partnership between Turnbridge Equities and affiliates of Dune Real Estate Partners LP, to secure the loan from accounts managed by KKR. JLL previously arranged the recapitalization and joint venture between Turnbridge Equities and affiliates of Dune Real Estate Partners in 2020.
Situated on 14.2 acres in the Hunts Point submarket of the Bronx, the Bronx Logistics Center is perfectly positioned for a last mile logistics facility, given its close proximity to the region’s major transit arteries, Interstates 95, 87 and 278, affording access to over 17 million consumers within a 30-minute drive.
The JLL Capital Markets team that arranged the construction financing was led by Senior Managing Director Christopher Peck, Managing Director Peter Rotchford and Associate Madison Warwick. Senior Managing Director Andrew Scandalios and Senior Director Tyler Peck arranged the predevelopment financing and equity partnership.
