Sign In  |  Register  |  About San Anselmo  |  Contact Us

San Anselmo, CA
September 01, 2020 1:33pm
7-Day Forecast | Traffic
  • Search Hotels in San Anselmo

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

EJF Capital and North Signal Capital Refinance RiverPort Building 4 at the RiverPort Commerce Park Near the Port of Savannah, GA

Supports Development of a 4.5 Million-Square-Foot, Master-Planned Industrial Park Serving the Largest and Fastest-Growing Container Terminal in America

EJF Capital LLC (“EJF Capital”) and joint venture partner North Signal Capital LLC (“North Signal”) today announced the successful close of a permanent financing agreement with MetLife Investment Management for RiverPort 4, a warehouse facility that is part of RiverPort Commerce Park (“the Project”), a 510-acre industrial park near Savannah, Georgia. Located less than ten miles from the Port of Savannah, the largest and fastest-growing container terminal in the United States,1 the Project is situated within a Qualified Opportunity Zone (“QOZ”) under the Tax Cuts and Jobs Act of 2017 (“TCJA”) which offers investors tax benefits to invest into Opportunity Zones with the aim of spurring economic growth in lower income areas.

Completed in December 2022 and situated on 21 acres within RiverPort Commerce Park, RiverPort 4 is a Class A, 208,168-square-foot distribution warehouse facility that is 100 percent leased to two tenants. The Project includes three more state-of-the-art distribution warehouses, RiverPort 5, 6, and 7, totaling another 1.3 million square feet currently under construction. Construction is expected to be complete on two buildings by the third quarter of 2023 and the third building by the first quarter of 2024.

“We are thrilled to complete the refinancing of RiverPort 4,” said Asheel Shah, EJF Senior Managing Director and Head of Real Estate Development. “This transaction provides us significant financial flexibility to continue to develop RiverPort Commerce Park, which has quickly become a hub of economic activity.”

Upon completion, RiverPort Commerce Park will consist of up to ten buildings totaling approximately 4.5 million square feet of industrial space that are ideally situated near the Port of Savannah and minutes from I-95 and I-16. To date, EJF Capital and North Signal have completed and fully leased four distribution warehouses within RiverPort Commerce Park totaling 1.3 million square feet.

JLL Capital Markets arranged the financing.

About EJF Capital

EJF Capital LLC is a global alternative asset management firm headquartered outside of Washington, D.C. with offices in London, England and Shanghai, China. As of March 31, 2023, EJF manages approximately $6.9 billion across a diverse group of alternative asset strategies. The firm was founded in 2005 by Manny Friedman and Neal Wilson. Since inception, EJF has focused on regulatory event-driven investment themes including its strategy to invest in Opportunity Zones. To learn more, please visit http://ejfcap.com and please read additional Risks and Limitations located here.

This information shall not constitute a solicitation or an offer to buy or sell any security or service, or an endorsement of any particular investment strategy. Nothing in this material constitutes investment, legal, or other advice nor is it to be relied upon in making investment decisions. Offering of EJF funds is made by private placement memorandum only. The specific strategies identified and described in this communication do not represent all strategies offered by EJF and the reader should not assume that investments or strategies were or will be profitable. This document shall not in any event be deemed to be complete and exhaustive information on the subjects covered. In connection with this communication, you are encouraged to review EJF’s Risk and Limitations Associated with EJF Strategies.

About North Signal Capital

North Signal Capital LLC is a real estate investment and development firm with offices in Stamford, CT and Charleston, SC. North Signal seeks to maximize risk-adjusted returns by employing a value-based approach to real estate investing. North Signal targets investments supported by long term secular trends. For more information regarding North Signal Capital LLC, please visit www.northsignal.com

1 Source: Georgia Ports: Port of Savannah (https://gaports.com/facilities/port-of-savannah/)

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 SanAnselmo.com & California Media Partners, LLC. All rights reserved.