Developer lands $34.3M loan to build speculative logistics facility in Lakeland

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Ridge Development, the industrial development arm of Transwestern Development Co., has broken ground on a speculative industrial project in Medley, Florida. Airport North Logistics Center is a.

PCCP LLC and Blue Steel Development have established a joint venture to acquire a 154-acre site in Lakeland, Fla., on which the partners will develop a 1.4 million-square-foot industrial park. PCCP and Blue Steel aren’t waiting for a big lease commitment to move forward with the Class A project, called Key Logistics Center, but are building.

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Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. Real estate developers are the people and companies who coordinate all of these activities, converting ideas from paper to real property.

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Ridge Development, the industrial development arm of Transwestern Development Co., today announces construction has commenced on a 245,000-square-foot Class A, distribution building the first of two buildings in a new 46.5-acre business park called Lakeland Logistics Center.

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January 3, 2018. PCCP, LLC formed a joint venture with Blue Steel Development to acquire a fully entitled 154-acre site in Lakeland, FL. The property is known as Key Logistics Center, and is planned for development of up to 1.4 million square feet of industrial space.

Greenland secures $310M loan to build Metropolis’ third tower The US branch of China’s Greenland Group has put the 56-storey, 736-unit Tower 3 of the Metropolis project up for sale for an undisclosed asking price. Greenland is reportedly seeking $450 million for the condo block as it sells off or abandons most of its US projects.

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Dekel Capital arranged $34.3 million in construction financing for a speculative 537,000-square-foot Class-A logistics facility in Lakeland, FL, on behalf of Texas-based industrial developer Xebec. The 36-month interest-only financing was originated by a pension fund advisor and consists of a senior note and mezzanine debt, resulting in financing of 85% LTC.