BEVERLY HILLS, Calif. (PRWEB) April 27, 2020
Township Capital, LLC is partnering with developers to build a massive warehouse near John F. Kennedy Airport in Queens, New York. The private equity firm, along with Triangle Equities and L&B Realty Advisors, is constructing a 300,000-square-foot cargo warehouse and storage facility named “Terminal Logistics Center.”
Triangle Equities secured an $87 million construction loan from Commercial Investment Trust (“CIT”), a leading national bank with a focus on providing financing for corporate and real estate investment ventures. Township Capital, along with L&B Realty Advisors, provided $14.25 million in equity financing and $27 million in equity capital for the project.
“The maturation of the e-commerce market creates a growing need for last-mile distribution centers,” Township Capital CEO Matthew Gorelik said. “Terminal Logistics Center’s prime location near JFK Airport and the core strength of the New York market provide a tremendous opportunity for superior risk-adjusted returns.”
Located at 130-24 South Conduit Avenue in Ozone Park, the project will be five stories high with a total of 29 loading docks. The truck courts, which can handle tractor trailers covering 53 feet, will be on the bottom two floors. The top three floors will be used for storage space. The facility benefits from easy access to general and exclusive JFK cargo areas.
“We are excited to be at the forefront of the multi-level industrial market,” said Gorelik, a New York native. “We believe this market is primed to expand in the nation’s gateway markets in much the same way it has in cities like Tokyo and London.”
Township Capital, LLC is a leading co-GP real estate investment firm headquartered in Beverly Hills, CA. Founded by CEO Matthew Gorelik in 2014, the firm has experience investing across all major property types with a specialty in student housing, senior living, multifamily, and industrial. For more information on Township Capital, visit townshipinc.com.