Axos & Cerberus Capital Management Provides Joint Venture Equity & Construction Loan For Industrial Property Acquisition In Long Island City

The industrial property located at 28-90 Review Avenue in Long Island City has recently undergone a closed transaction. With a total square footage of 734,000, this property was acquired by the landlord, Innovo Property Group. The deal was facilitated by brokers Christopher Peck, Peter Rotchford, Tyler Peck, and Nicco Lupo from JLL. The total capitalization for this transaction amounted to $354,000,000, with the funding being provided by Axos and Cerberus Capital Management. The loan type for this deal involved a joint venture equity and construction loan.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $354,000,000
• Market: Long Island City
• Lender: Axos & Cerberus Capital Management
• Landlord: Innovo Property Group
• Brokers: Christopher Peck, Peter Rotchford, Tyler Peck, and Nicco Lupo - JLL

Aside from the transaction specifics mentioned above, it is worth noting that this deal involved the collaboration of various entities. Axos and Cerberus Capital Management acted as lenders, providing the necessary funds for the acquisition. On the other hand, Innovo Property Group played the role of the landlord in this transaction, taking ownership of the industrial property. Furthermore, JLL's team, consisting of Christopher Peck, Peter Rotchford, Tyler Peck, and Nicco Lupo, represented the involved parties and facilitated the deal.