NEW YORK CITY- Innovo Property Group and Square Mile CapitalManagement have landed $305 million in construction financing fromthe Bank OZK and EverWest Real Estate Investors to develop a onemillion square foot, two-story Class A logistics and distributionfacility at 2505 Bruckner Boulevard in the Bronx. Cushman &Wakefield arranged the financing.
Construction on the 20-acre site has begun and the project isdated for completion in the first quarter of 2022. IPG and SquareMile Capital acquired 2505 Bruckner in 2017. When completed, thefacility is expected to clock in at more than one million squarefeet.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.