Prospect Ridge Lends $150M for Florida Industrial Refi
By Andrew Coen February 20, 2026 12:37 pm
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A joint venture between Redfearn Capital and TPG has landed a $150 million loan to refinance a Florida industrial portfolio, Commercial Observer has learned,
Prospect Ridge provided the loan for 10 logistics properties the sponsorship owns throughout Florida, including sites in Miami-Dade County, Orlando, Clearwater, Jacksonville and Naples. The deal, which was arranged by CBRE, includes an initial $80 million loan backing the 590,895-square-foot portfolio plus an additional $70 million of capacity available to support future acquisitions.
“This capital gives us the flexibility to continue scaling in locations where we see durable demand and long-term growth,” Alex Redfearn, founder, president and CEO of Redfearn Capital, said in a statement.
Redfearn Capital and TPG, working through its TPG Angelo Gordon U.S. real estate platform, acquired the 10 properties over a three-year period from June 2022 through October 2025. The properties are 98.4 percent leased to 19 tenants, according to Redfearn Capital.
Since Redfearn forged a partnership with TPG Angelo Gordon, the partnership has acquired 37 industrial assets spanning roughly 3.2 million square feet across Florida.
Prospect Ridge and TPG did not immediately return requests for comment.
Andrew Coen can be reached at acoen@commercialobserver.com.
