**PGIM Real Estate Provides $78M Construction Loan for Houston Cold Storage Facility**
PGIM Real Estate has issued a $78 million fixed-rate construction loan to support the development of an advanced cold storage warehouse in Houston. The loan was granted to BGFP International LLC, a joint venture between BG Capital and Freezpak Logistics.
The 281,849-square-foot facility will offer state-of-the-art, temperature-controlled storage solutions tailored to meet the needs of today’s cold-chain logistics sector. Designed to support a wide array of refrigerated and frozen goods, the facility will prioritize product quality, safety, and integrity.
BG Capital and Freezpak Logistics currently operate 44 million cubic feet of cold storage space in port-centric locations throughout the Northeast, with convenient access to major highways. Through their partnership, BGFP International (BGFPI), they plan to develop more than 200 million cubic feet of cold storage space nationwide. This initiative is projected to result in 310,000 pallet positions by the fourth quarter of 2024.
