Innovo Property Group, Affinius close $334m recapitalization of premium urban industrial facility

Innovo Property Group (IPG) and Affinius Capital have closed a $334 million recapitalization of a premium urban industrial facility in the Bronx, New York.

The property, 2505 Bruckner Blvd., is a 1 million-square-foot, state-of-the-art, multi-story facility, featuring industrial amenities that include 28- to 32-foot clear height ceilings, 106 loading doors and 664 interior parking spaces. The site offers easy access to the Cross Bronx Expressway, Hutchinson River Parkway and the Bruckner Expressway.

The property is 53 percent leased to one of the world’s largest ecommerce companies.

“2505 Bruckner Boulevard is a stand-out urban industrial property specifically designed to service a large population and address the needs of high-profile tenants,” said Andrew Chung, founder and CEO of IPG. “This recapitalization is a milestone achievement in this project’s lifecycle, especially in this economic climate. We believe the quality of the space and its ameniti