Updated Oct 29, 2024
Apollo Commercial Real Estate Provides $300M Loan For Industrial Property In Sunset Industrial Park
Sunset Industrial Park, 20th Street, Brooklyn, NY, USA
$300,000,000
$187/SF
Building Size
1,600,000 SF
Asset Type
Industrial
Closing
Jan 9, 2019
About this deal
AI
Located in the Sunset Industrial Park, the industrial property at 75-81 20th Street has recently undergone a closed transaction. Acting as the lender, Apollo Commercial Real Estate provided a loan of $300,000,000 for this deal. The building spans 1,600,000 square feet of space. The property was owned by DHPH & Bridge Development Partners and their representatives during the transaction were Jonathan Schwartz, Aaron Appel, Mo Beler, and Michael Diaz of JLL NY Capital Markets.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $300,000,000
- Address: 75-81 20th Street
- Market: Sunset Industrial Park
- Lender: Apollo Commercial Real Estate
- Landlord: DHPH & Bridge Development Partners
- Representatives: Jonathan Schwartz, Aaron Appel, Mo Beler, and Michael Diaz
The involvement of Jonathan Schwartz, Aaron Appel, Mo Beler, and Michael Diaz from JLL NY Capital Markets as the representatives of DHPH & Bridge Development Partners showcases the dedication and expertise that went into this transaction. This deal has further solidified the strong presence of Apollo Commercial Real Estate in the lending space for industrial properties.
On the Map
$300,000,000
$187/SF
Industrial
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Players
Brooklyn Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93