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Florida & Gulf Coast  + Industrial  |  November 3, 2020
David Cohen
By: David Cohen

JV Secures $67M Construction Loan for Cold Storage Facility in Hialeah

Joint venture partners Bridge Development and PGIM Real Estate have secured $67 million in financing to develop Bridge Point Cold Logistics Center, a 312,103-square-foot speculative cold storage facility in Hialeah.

The development marks the first cold storage project in South Florida for the joint venture, which launched a $150 million national cold-storage investment program late last year, targeting $400 million in assets. The project represents the first-ever cold storage project to be delivered on a speculative basis in South Florida.

The loan was provided by Metropolitan Life Insurance Co. and secured by Steve Roth of CBRE. It will cover the development of the 21-acre site. The JV will break ground on the project this month, with the development slated to be completed in the fourth quarter of 2021.

For comments, questions or concerns, please contact David Cohen

Read More News Stories About: PGIM
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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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