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Two Trees Management Secures $80M Construction Loan For Industrial Property On Kent Avenue

Property Image
FINANCED
$80,000,000

New York

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Industrial93,882 SF
Financed 08/15/2022
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Property Image
FINANCED

Two Trees Management Secures $80M Construction Loan For Industrial Property On Kent Avenue

292 Kent Avenue, Brooklyn, New York 11249, United States

See Similar Deals
Industrial93,882 SF
Financed 08/15/2022
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$852
Total Square Footage:93,882 SF
Transaction Type:Loan

Located in the bustling neighborhood of Williamsburg, the industrial property at 292-314 Kent Avenue recently underwent a significant transaction. The asset encompasses a total of 93,882 square feet, making it a substantial addition to the market.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $80,000,000
  • Address: 292-314 Kent Avenue, Williamsburg
  • Market: Williamsburg

Acting as the lender, M&T Bank provided a construction loan of $80,000,000 for this transaction. The loan will support the development and improvement of the industrial property.

In this deal, Two Trees Management, represented by David C. Walentas, acted as the landlord. Their involvement underlines their commitment to the development and growth of the Williamsburg market.

Players

Two Trees Management
Two Trees Management
BROKERAGE
M&T Realty Capital Corporation
M&T Realty Capital Corporation
BROKERAGE
M&T Bank
M&T Bank
LENDER
M&T Realty Capital Corporation
M&T Realty Capital Corporation
LENDER
DW
Two Trees Management
David C. Walentas
2 deals$112.2M volume
LANDLORD

Details

FINANCED
IMAGE: David C. Walentas DATE: 08/15/2022 ADDRESS: 292-314 Kent Avenue MARKET: Williamsburg ASSET TYPE: Industrial ~ SF: 93,882 LENDER: M&T Bank (@MandT_Bank) LANDLORD: Two Trees Management - David C. Walentas LOAN AMOUNT: $80,000,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$80,000,000.00

Monthly NOI$533,333.33
Monthly Debt Service$505,654.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00