BGL Real Estate Advisors completes financing for Ferragon Corp.

Ferragon Corp. has received $22.3 million in financing to create a continuous annealing toll processing operation in Gibraltar, Mich., that will become operational in late 2016.

Once complete, the 550,000-sq.-ft. facility will create about 100 new jobs for local residents.

Based in Cleveland, Ferragon is a provider of toll processing services for hot-rolled and cold-rolled steel that operates four other facilities in the Midwest and South. The new facility, operating as Ferrolux Gibraltar, is the company’s largest complex.