JLL Capital Markets announced it has facilitated a joint venture partnership and secured $54 million in construction financing for Turnpike 5 Logistics Park, a two-building, 528,478-square-foot speculative industrial development, strategically located at Exit 5 of the New Jersey Turnpike in Burlington County, N.J.
JLL arranged the full-stack capitalization for the development with a joint venture between NFI Real Estate and Penwood Real Estate Investment Management, while securing a construction loan with Fifth Third Bancorp.
The strategic partnership combines NFI's extensive operational expertise as a leading third-party logistics company with Penwood's institutional, yet entrepreneurial, investment management capabilities, creating a powerful platform for value creation in the industrial real estate sector.
“NFI is excited to add such a dynamic, entrepreneurial investor in Penwood as a new partner along with Fifth Third as a new lender for this great project
