LBA Realty Secures $22.8 Million Refinance From City National Bank For Red Hook Properties

The asset involved in this transaction comprises three properties located in Red Hook, Brooklyn, specifically at 236 Richards Street, 118 Beard Street, and 116 Beard Street. The properties include industrial buildings and a hotel, collectively benefiting from the secured refinancing arrangement.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $22,800,000
• Lender: City National Bank
• Landlord: LBA Realty
• Loan Type: Refinance

LBA Realty engaged City National Bank to facilitate the refinancing for these properties, indicating a strategic financial move for the management of their holdings in the Brooklyn market.