Atlanta & Southeast + Carolinas + Industrial | February 24, 2023

EJF Capital, LLC and North Signal Capital, LLC have secured $75.1 million to develop three warehouses near the Port of Savannah at RiverPort Commerce Park in Hardeeville, SC.

Partners Lock In $75M to Build Trio of Warehouses near Port of Savannah

Arlington, VA-based EJF Capital, LLC and joint venture partner North Signal Capital, LLC have closed on a $75.1-million senior construction loan from Bank OZK to develop three Class A warehouses totaling a combined 1.3 million square feet at RiverPort Commerce Park in Hardeeville, SC.

RiverPort Commerce Park is 10 miles from the Port of Savannah in a Qualified Opportunity Zone.

Building 5 will be a 127,000 square-foot rear-load facility; Building 6, a 405,000 square-foot, single-load facility; and Building 7, a 791,000 square-foot cross-dock facility. All are expected to be completed at the end of 2023 and all include warm-shell features such as speculative offices, dock packages and motion-sensor LED lighting.

To date, the venture between EJF Capital, LLC, an alternative asset management firm, and North Signal Capital, LLC, a real estate investment and development company, has completed and fully leased four distribution warehouses at RiverPort Commerce Park totaling 1.3 million square feet and serving nine tenants.

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Inside The Story

EJF Capital, LLC's Asheel Shah

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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