barings-4626a10b-91b9-4404-b096-d78fc90a0c26''>Barings and Pacific Western Bank have provided a loan of $63,000,000 for a development site in Bedford-Stuyvesant, Brooklyn. The property, located at 800 Willoughby Avenue, is a dev site with a buildable square footage (BSF) of 185,000. The loan was secured by Property Resource Corp. and Avenue Realty Capital, who act as the landlords of the property.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $63,000,000
• Market: Bedford-Stuyvesant, Brooklyn
• Address: 800 Willoughby Avenue

The deal was facilitated by Newmark brokers Dustin Stolly, Jordy Roeschlaub, Chris Kramer, Daniel Fromm, and Nick Scribani. They represented the parties involved in the transaction, including the lenders Barings and Pacific Western Bank, as well as the landlords Property Resource Corp. and Avenue Realty Capital.