BGFP International, a strategic partnership between BG Capital, Saoud Development, and FreezPak Logistics, has secured $72 million in funding from Valley National Bank and the Israel Discount Bank of New York (IDB) to develop a state-of-the-art cold storage facility in Jacksonville. The project is expected to be completed by November 2024.
The financing was arranged by Tyler Huffman and Joseph Byrne of BG Capital. The senior lenders for this project are Valley National Bank and IDB while Nuveen Green Capital is providing Commercial Property-Assessed Clean Energy financing (CPACE).
Spanning over 20 acres, the facility will offer 53,000 new pallet positions with 212,000 square feet dedicated to freezer space and an additional 41
