Turnbridge Equities and Manekin LLC have successfully completed the capitalization of Phase I of the National Capital Business Park (NCBP) in Prince George’s County, Maryland. This transaction involved approximately $275 million for construction financing and joint venture equity to develop five Class A industrial warehouse buildings spanning 1.3 million square feet. An affiliate of Apollo Global Management provided a construction loan worth $165 million while a joint venture between Qatar Investment Authority (QIA) and PCCP, LLC contributed around $110 million in equity investment. Upon completion, NCBP will feature up to 3.5 million square feet of Class A industrial space along with a community park plus preservation areas for natural habitats within its boundaries.
Cushman & Wakefield represented the developer team led by John Alascio, TJ Sullivan, Meredith Donovan and Mitch Rothstein during this transaction process..
