Strategic View:
JLL Capital Markets arranges a joint venture equity partnership for NFI Real Estate to develop Turnpike 5 Logistics Park. The deal brings in a strategic institutional partner to fund the 528,000-square-foot project in New Jersey, a critical US supply chain node.
Full Story:
On January 29, 2026, JLL Capital Markets announced it had successfully orchestrated a club-style financing package for Turnpike 5 Logistics Park in Burlington County, New Jersey. The transaction matches developer NFI Real Estate with a new institutional equity partner, enabling the construction of a Class A industrial facility in one of the tightest industrial markets in the United States.
This deal highlights the “Capital Recalibration” in US development. With traditional bank financing constrained, developers are turning to “Equity Syndication”—bringing in partners at the project level to fill the capital stack. The 528,000-square-foot project is strategically located along the New Jersey Turnpike, a corridor that serves the massive consumer density of the Northeast.
The structure involves both joint venture equity and construction financing, a dual-layer club deal that de-risks the project for NFI. By syndicating the equity, NFI retains development fees and management rights while sharing the market risk. The successful closing demonstrates that despite interest rate headwinds, “Build-to-Core” strategies in prime locations continue to attract smart money.
Why It Matters Summary:
Development deals are hard to pencil in 2026, making this a bellwether transaction. It shows that for prime industrial locations, the “Club Deal” model—pairing developer know-how with institutional equity—is the key to getting shovels in the ground.
Source:
JLL Newsroom
