Cerberus Provides $200 Million Debt Facility To Prime Data Centers For Midtown East Development Site

$200,000,000

$400/SF

Building Size

500,000 SF

Asset Type

Development Site

Closing

Aug 26, 2024

AI

The asset involved in this transaction is a development site located in Midtown East, encompassing a total square footage of 500,000. The loan provided for this asset amounts to $200,000,000 and is classified as a debt facility.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $200,000,000
Lender: Cerberus - Stephen Feinberg
Landlord: Prime Data Centers - Nicholas Laag
Brokerage: Jordan Roeschlaub, Benjamin Kroll & Brent Mayo - Newmark

This transaction features the involvement of key representatives from notable companies. Stephen Feinberg represents Cerberus as the lender, while Nicholas Laag is the representative for Prime Data Centers. Newmark provides brokerage services through their agents Jordan Roeschlaub, Benjamin Kroll, and Brent Mayo.

Players