Turnbridge Equities Completes Recapitalization of Bronx Logistics Center With Joint Venture Partner Dune Real Estate Partners LP

Turnbridge Equities (Turnbridge), a vertically integrated real estate investment and development firm, announced the recapitalization of the Bronx Logistics Center, a Class-A industrial development site situated on 14.2 acres in the Hunts Point submarket of New York City.  Bronx Logistics Center is expected to be one of the largest multi-story, last mile distribution facilities in the region when complete, and is currently the only planned industrial development site in the New York City market with available rail access. As part of the recapitalization, Turnbridge entered into a new joint venture with affiliates of Dune Real Estate Partners LP (Dune) to own and develop the five parcel assemblage.  The joint venture simultaneously secured $105 million in predevelopment financing for the project with J.P.