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H.I.G Realty Partners Provides $75M Acquisition/Bridge Loan For Industrial Property At 130-02 South Conduit In New York

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FINANCED
$75,000,000
Max Herzog
Geoff Goldstein
JW

New York

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Industrial173,973 SF
Financed 03/20/2023
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FINANCED

H.I.G Realty Partners Provides $75M Acquisition/Bridge Loan For Industrial Property At 130-02 South Conduit In New York

130-02 South Conduit, South Ozone Park, Ny

See Similar Deals
Industrial173,973 SF
Financed 03/20/2023
Max Herzog
Geoff Goldstein
JW
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$431
Total Square Footage:173,973 SF
Transaction Type:Loan

An industrial property located at 130-02 South Conduit in New York has been involved in a closed transaction. The property spans approximately 173,973 square feet.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Market: New York
  • Address: 130-02 South Conduit
  • Lender: H.I.G Realty Partners - Michael Mestel, Daniel Tanner & Brianne Griffith
  • Landlord: Triangle Equities - Josh Weingarten
  • Brokers: Geoff Goldstein, Max Herzog & Jackie Ferrer - JLL

The loan for this transaction, which involved the acquisition or bridge, amounted to $75,000,000.

Note from brokers: The JLL Capital Markets Debt Advisory team, led by Geoff Goldstein and Max Herzog, provided advisory services for the $136M recapitalization. Andrew Scandalios, Rob Hinckley, Tyler Peck, and Nicco Lupo were also part of the team.

Players

Geoff Goldstein
JLL
Geoff Goldstein
55 deals$7.9B volume
BROKER
Max Herzog
Institutional Property Advisors
Max Herzog
80 deals$5.4B volume(212) 430-5165
BROKER
H.I.G. Capital
H.I.G. Capital
LENDER
JW
Triangle Equities
Joshua Weingarten
3 deals$219.1M volume
LANDLORD

Details

FINANCED
IMAGE: Geoff Goldstein, Max Herzog, Josh Weingarten, Michael Mestel & Daniel Tanner DATE: 03/20/2023 ADDRESS: 130-02 South Conduit MARKET: New York ASSET TYPE: Industrial ~ SF: 173,973 LENDER: H.I.G Realty Partners - Michael Mestel, Daniel Tanner & Brianne Griffith LANDLORD: Triangle Equities - Josh Weingarten BROKERS: Geoff Goldstein, Max Herzog & Jackie Ferrer - JLL (@JLL) LOAN AMOUNT: $75,000,000 LOAN TYPE: Acquisition/Bridge NOTE FROM BROKERS: The JLL Capital Markets Debt Advisory team was led by Geoff Goldstein and Max Herzog. Andrew Scandalios, Rob Hinckley, Tyler Peck, and Nicco Lupo provided advisory services on the $136M recapitalization.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$75,000,000.00

Monthly NOI$500,000.00
Monthly Debt Service$474,051.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00