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Turnbridge Recaps Bronx Logistics Center; Secures $105M

Turnbridge entered into a joint venture with Dune Real Estate Partners to own and develop the five parcel assemblage.

NEW YORK CITY—Turnbridge Equities has recapitalized the Bronx Logistics Center, an industrial development site situated on 14.2 acres in the Hunts Point submarket.  The company entered into a joint venture with affiliates of Dune Real Estate Partners to own and develop the five parcel assemblage. At the same time, the JV secured $105 million in pre-development financing from J.P. Morgan.  Turnbridge completed the assemblage in a series of off-market transactions beginning in 2018.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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