Le Lézard
Classified in: Business

TriGate Capital Joint Venture to Acquire Land for Industrial Development in Jacksonville, FL


DALLAS, August 12, 2018 /PRNewswire-PRWeb/ -- TriGate Capital, in a joint venture with Miles River Partners, has acquired the remaining vacant land comprising the Crossroads Distribution Center in Jacksonville, Florida with an eye toward industrial development. The nearly 106 acres is located in Jacksonville's Westside industrial submarket at the intersection of Interstate 295 and Pritchard Road. The project is currently entitled for 676,000 square feet of industrial distribution with only 126,000 currently built to date.

Michael Bradley, principal of Miles River Partners stated, "The land represents the most well located developable site in the Westside submarket, and we are looking forward to delivering new distribution space to meet the market's current use requirements."

TriGate's Vice President Adam Aultz further commented, "TriGate is excited to further grow its industrial portfolio in Florida and the southeast and is currently seeking more acquisition and development opportunities. We are looking forward to partnering with Miles River and hope Crossroads is just the beginning of a great partnership."

The Partnership would like to thank JLL who acted as agent on behalf of the seller.

About TriGate Capital

TriGate Capital, LLC (TriGate) is a leading real estate investment manager focused on the recapitalization and repositioning of real estate assets and companies. TriGate is based in Dallas, TX and has completed investments throughout the United States.

TriGate manages three fully discretionary real estate funds, TriGate Property Partners, LP (Fund I), TriGate Property Partners II, LP (Fund II) and TriGate Property Partners III, L.P. (Fund III), which are the vehicles through which TriGate conducts its investment strategy. Fund I and Fund II are fully invested and Fund III is presently in its investment period. TriGate purchased this asset through its current investment vehicle - TriGate Property Partners III, LLC ? which closed fundraising in 2016 with $340 million of equity commitments.

TriGate's team has been responsible for acquiring over $11 billion of real estate assets through multiple types of transaction structures. The Company's professionals have significant expertise in real estate operations, debt restructuring, and asset and company recapitalization. Additionally, the team has extensive expertise in real estate asset selection and structuring transactions to weather different stages in the real estate investment cycle.

 

SOURCE Trigate Capital LLC


These press releases may also interest you

at 12:30
International Petroleum Corporation (IPC or the Corporation) reports the following, in accordance with the Swedish Financial Instruments Trading Act: Following the cancellation of 445,000 common shares repurchased by IPC under the normal course...

at 12:30
Aardex, a data-driven, community-minded real estate investment and development firm that has built out more than 1.5 million square feet of projects over the last 40 years, today announced the launch of a new company, Stellera, which will focus on...

at 12:30
The Municipality of Clarington, as a founding member of the Canadian Association of Nuclear Host Communities (CANHC), joined heads of state, representatives from the nuclear industry and non-governmental organizations at the first-ever Nuclear Energy...

at 12:29
Consolidated Credit wants consumers to spring forward into a new season of learning. The focus is on improving fiscal futures through education, saving strategies, and building stability.  ...

at 12:20
Coco Pool Corp. (CCPC.P: TSX-V) (the "Company"), a capital pool company, announces that, effective March 27, 2024, Mark S. Kowalski has resigned as CFO of the Company, and the Company has appointed Sebastien Charles, an existing director and...

at 12:15
Linc Housing announced that construction is underway on North Harbor...



News published on and distributed by: