BGFP International, a strategic partnership between BG Capital, Saoud Development and FreezPak Logistics, has secured $72 million in funding from Valley National Bank, the Israel Discount Bank of New York (IDB) and Nuveen Green Capital to develop a 275,000-square-foot cold storage facility in Jacksonville, Fla. Construction is underway and expected to be completed in November 2024.
The debt execution was originated by BG Capital, which consists of Valley National Bank and IDB contributing as the senior lenders and Nuveen Green Capital providing Commercial Property-Assessed Clean Energy financing (CPACE).
“Building constructive relationships with a mix of traditional and alternative-based lenders has been a focal point of BGFP International’s ability to arrange and close more complex capital stacks in turbulent debt environments,” said Tyler Huffman, vice president at BG Capital. “We are extremely grateful to our partners at Valley National Bank and Nuveen Green
