Andrew Joblon’s Turnbridge Equities has brought on Daniel Neidich’s Dune Real Estate Partners as a JV equity partner for its massive last-mile distribution and warehouse development at 980 East 149th Street in Hunts Point. The duo secured $105 million in fresh pre-dev debt financing from J.P. Morgan, according to the Commercial Observer.
- Plans: Upon completion, the four-story logistics Center will span roughly 1.2 million SF. The project is situated on 14.2 acres.
- Worth Noting: ACORE Capital had previously provided acquisition financing to Turnbridge, which has been assembling the sites in a series of off-market deals since December 2018. [CO]