Speed Post Secures $435M Refinance Loan In Long Island City Industrial Deal

Located in Long Island City, the industrial property at 23-30 Borden Avenue has been involved in a closed transaction. Spanning over 842,000 square feet, this property offers ample space for industrial use. The deal was facilitated by Rob Turner, Steven Binswanger, Gary Phillips, and Tanner McNeill of Eastdil Secured. They represented the buyer, seller, landlord, and tenant in the transaction.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $435,000,000
• Lender: Starwood - JPMorgan Chase
• Landlord: Innovo Property Group - Andrew Chung & Graham Stephens

Starwood and JPMorgan Chase provided a loan amount of $435,000,000 for this closed transaction. Innovo Property Group, represented by Andrew Chung and Graham Stephens, acted as the property's landlord. The deal involved a refinance loan, ensuring financial stability for the property.