Naftali Group & Access Industries Secure $385M Construction Loan For Williamsburg Multifamily
FINANCED
$385,000,000
+ 3
New York
See Similar DealsIndustrial1,000,000 SF
Financed 11/18/2022
FINANCED
Naftali Group & Access Industries Secure $385M Construction Loan For Williamsburg Multifamily
470 Kent Avenue & 470 Kent Avenue
See Similar DealsIndustrial1,000,000 SF
Financed 11/18/2022
+ 3
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$385
Total Square Footage:1,000,000 SF
Transaction Type:Loan
The Naftali Group and Access Industries have secured a construction loan of $385,000,000.00 from Bank OZK and Barings for a multifamily property located at 470 Kent Avenue in Williamsburg. The property spans approximately 500,000 square feet.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $385,000,000.00
- Lender: Bank OZK & Barings
- Landlord: Naftali Group & Access Industries
The deal was facilitated by the brokers Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, and Mo Beler of Walker & Dunlop. They represented the Naftali Group and Access Industries in the transaction.
Players
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$385,000,000.00
Monthly NOI$2,566,666.67
Monthly Debt Service$2,433,461.89
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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