Investment Manager for Texas Teachers’ Pension Fund Joins Dov Hertz and Partner on Sunset Park Last-mile Play

Three investors are bringing a Texas-sized warehouse to Brooklyn.

Banner Oak Capital Partners, the investment advisor for the Texas teachers’ pension fund, has joined Dov Hertz and Bridge Development Partners on their plan to redevelop an 18-acre industrial park in Sunset Park. The trio closed Thursday on the $255 million purchase of the Sunset Industrial Park along the Gowanus Canal, the partners told The Real Deal.

Apollo Commercial Real Estate Finance provided a $200 million acquisition loan for the property, which has an address of 75-81 20th Street.