PGIM Furnishes Construction Loan for Houston Freezer Warehouse

PGIM Real Estate provided a $78 million fixed-rate construction loan for an industrial freezer warehouse facility in Houston. The core loan was provided to a joint venture between BG Capital and Freezpak Logistics (BGFP International LLC).

This 281,849-square-foot property offers advanced, temperature-controlled storage solutions engineered to meet the demands of modern cold-chain logistics. Designed to accommodate a diverse range of frozen and refrigerated goods, it ensures optimal product integrity while adhering to the highest standards of safety and quality.

Freezpak Logistics and BG Capital currently have 44 Million Cubic feet in the Northeast positioned in port-centric locations with easy access to major highways. BG Capital and Freezpak joined a partnership (BGFPI) to build more than 200 million Cubic feet of cold storage warehouses nationwide, creating 310,000 pallet positions by the fourth quarter of 2024.