Morgan Stanley Obtains $56.3 Million Refinance For FedEx Properties In Jackson Heights Queens

The asset involved in the transaction is two industrial properties, specifically located at 83-15 24th Avenue and 83-34 23rd Avenue in Jackson Heights, Queens. The properties collectively have a square footage of 127,112 and are occupied by FedEx. The refinancing associated with these properties amounts to $56,300,000.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $56,300,000
• Lender: Blackstone Group & Corebridge Financial
• Landlord: Morgan Stanley
• Loan Type: Refinance

The refinancing was secured by Morgan Stanley’s NHNR Hold Co 28 LLC, highlighting their involvement in the acquisition of the funds necessary for the transaction. The lenders, Blackstone Group and Corebridge Financial, played a crucial role in facilitating this refinancing for the properties occupied by FedEx.