Bank OZK Provides $182M Loan For Development Site On Bruckner Blvd In Bronx

A development site located at 2505 Bruckner Blvd in the Bronx has secured a loan worth $182,000,000. The loan was provided by Bank OZK to support the development of the property. The development is scheduled to be completed in Q1 2022 and is being designed by KSS Architects. The property will consist of a logistics and distribution facility with a total square footage of 986,000.

Summary of transaction details

• Property Type: Development site
• Transaction Amount: $182,000,000
• Address: 2505 Bruckner Blvd
• Market: Bronx
• Loan Provider: Bank OZK
• Landlord: Innovo Property Group & Square Mile Capital Management
• Building Square Footage: 986,000

The loan transaction involved Andrew Chung, Craig Solomon, and George Gleason as key individuals. They were involved in securing the loan on behalf of the property owner, Innovo Property Group and Square Mile Capital Management. The collaboration between the lenders and the landlords will lead to the development of the logistics and distribution facility at 2505 Bruckner Blvd in the Bronx.