Lakeland Developers Snag $40.67M Financing for 261K-SF Warehouse

Berkadia secured a $40.67 million construction loan to fund Phase II infrastructure and speculative warehouse development at Lakeland Central Park, a 740-acre master-planned industrial park in Lakeland, Florida.

Charles Foschini, Christopher Apone, and Shannon Wilson of Berkadia Miami secured the financing on behalf of Parkway Property Investments and Silverpeak Real Estate Partners.

A floating-rate, 36-month loan was provided by a syndicate of three regional banks.  Loan proceeds will support full infrastructure buildout for Phase II – 250 net acres entitled for 3 million buildable square feet – as well as construction of a 261,000-square-foot spec warehouse (Building 300). Lakeland Central Park is located at 1415 Winston Park Blvd.

Since acquiring the site in an off-market transaction in December 2019, Parkway and Silverpeak have advanced a phased development strategy beginning with Phase I infrastructure and the delivery of a 705,000-square-foot, Class A cross-dock facility (Building 200). That building was recently sold to Ashley Furniture (shown).

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