Watermark Capital Group Secures $15 Million Refinance Loan From Citibank For Industrial Asset In Bushwick

The asset involved in this transaction is an industrial property located at 330 Melrose Street in Bushwick, Brooklyn. The loan amount executed for this refinancing was $15 million, which effectively replaced $9.5 million in prior debt from BridgeCity Capital.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $15,000,000
• Address: 330 Melrose Street
• Market: Bushwick, Brooklyn
• Lender: Citibank
• Landlord: Wolf Landau - Watermark Capital Group
• Loan Type: Refinance

Watermark Capital Group is the landlord in this transaction, managing the 54-unit building that received the refinance loan. The refinancing deal was facilitated by Citibank, indicating a critical financial strategy by Watermark Capital to manage its previous debt obligations.