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Turnbridge/Dune JV Scores $381M Debt to Build Bronx Logistics Center
JLL’s Capital Markets group 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. The loan was arranged on behalf of a partnership between Turnbridge Equities and affiliates of Dune Real Estate Partners LP and sourced from accounts managed by KKR
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. Last year, JLL senior managing director Andrew Scandalios and senior director Tyler Peck arranged predevelopment financing and the Turnbridge/Dune equity partnership.
The project is situated on 14.2 acres in the Bronx’s Hunts Point submarket. Future tenancy will be able to accommodate the growing need for faster delivery times to consumers. Same-day delivery is expected to account for more than 25% of e-commerce transactions by 2025.
- ◦Development
- ◦Financing
