Chicago-based Bridge Development Partners has closed on $28 million in financing for part of its spec Class A industrial park in Hialeah Gardens, Miami-Dade County records show.
Bridgepoint Crossroads is 920,000-square-foot park that will be separated into three sites. When completed during the fourth quarter of next year, Crossroads East will span 420,989 square feet on about 29 acres.
A Bridge Development Partners affiliate paid $10 million for the property in October, according to Miami-Dade property records. It’s located east of the Florida Turnpike off of 107th Avenue. Crossroads East is north of 146th Street.
Regions Bank was the lender for the construction loan. Bridge founder Steven F. Poulos signed the mortgage. In July, Bridge sold its spec warehouse in Dania Beach for $22 million.
Source: The Real Deal