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PIMCO Provides $84M Mezzanine Loan For Industrial Property In NYC

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FINANCED
$84,000,000
Lauren Kaufman
Gideon Gil
+ 1

New York

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Industrial1,067,544 SF
Financed 04/06/2023
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Property Image
FINANCED

PIMCO Provides $84M Mezzanine Loan For Industrial Property In NYC

2505 Bruckner Boulevard

See Similar Deals
Industrial1,067,544 SF
Financed 04/06/2023
Lauren Kaufman
Gideon Gil
+ 1
Contact now

Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$78
Total Square Footage:1,067,544 SF
Transaction Type:Loan

The industrial property located at 2505 Bruckner Boulevard in New York City has been involved in a closed transaction. The property is owned by Innovo Property Group and Affinius Capital. The deal was brokered by Gideon Gil, Lauren Kaufman, Zachary Kraft, and Dale Braverman from Cushman & Wakefield. The loan for this transaction was provided by PIMCO for a total amount of $84,000,000. It is important to note that the loan type for this transaction is mezzanine.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $84,000,000
  • Address: 2505 Bruckner Boulevard, New York City
  • Market: New York City

This transaction involved the collaboration between the property owners, Innovo Property Group and Affinius Capital, and the lender, PIMCO. The deal was facilitated by the brokerage team from Cushman & Wakefield, including Gideon Gil, Lauren Kaufman, Zachary Kraft, and Dale Braverman. Their expertise and representation played a crucial role in the successful completion of this transaction.

Players

Lauren Kaufman
35 deals$5.4B volume(312) 470-1800
BROKER

Gideon Gil
Cushman & Wakefield
48 deals$11.1B volume
BROKER

Zachary (Zach) Kraft
Cushman & Wakefield
22 deals$3.8B volume
BROKER

Dale Braverman
Cushman & Wakefield
6 deals$385.5M volume
BROKER

PIMCO
LENDER


Details

FINANCED
IMAGE: Gideon Gil, Lauren Kaufman, Zachary Kraft & Dale Braverman DATE: 05/05/2023 ADDRESS: 2505 Bruckner Boulevard MARKET: New York City ASSET TYPE: Industrial LENDER: PIMCO (@PIMCO_Global) LANDLORD: Innovo Property Group (@Innovo_Property_Group) & Affinius Capital BROKERS: Gideon Gil, Lauren Kaufman, Zachary Kraft & Dale Braverman - Cushman & Wakefield (@CushWake) LOAN AMOUNT: $84,000,000 LOAN TYPE: Mezzanine

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$84,000,000.00

Monthly NOI$560,000.00
Monthly Debt Service$530,937.14
Change in Cash Flow$0.00
Refinance Proceeds$0.00