“JV Partners for $76M Houston Cold Storage Facility”

"JV Partners for $76M Houston Cold Storage Facility"

BG Capital and FreezPak Logistics have secured a funding of $75.9 million for the construction of a new cold storage facility in Houston, TX. The project will be leased by FreezPak Logistics and is estimated to require an investment of over $100 million from the partnership.

The financing has been provided by PGIM Real Estate through its structured debt lending strategy, with $25.9 million in construction mezzanine financing, while Bank OZK has contributed $50 million as senior construction financing. The 282,000-square-foot building will be situated within TGS Cedar Port – one of the largest master-planned industrial parks in the U.S., housing major companies such as Walmart, Home Depot and Sam’s Club.

The development plans include cutting-edge building specifications with advanced cooling equipment and power systems along with hydrogen fuel cell charging stations and machinery facilities.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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