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Blackstone Mortgage Trust, Madison Capital, Meadow Partners & Acadia Realty Trust Provide $300M Loan For Sunset Park Industrial Property

Property Image
FINANCED
$342,000,000

New York

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Industrial1,149,350 SF
Financed 06/15/2018
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Property Image
FINANCED

Blackstone Mortgage Trust, Madison Capital, Meadow Partners & Acadia Realty Trust Provide $300M Loan For Sunset Park Industrial Property

850 3rd Ave, New York, NY 10022, USA & 850 3rd Ave, New York, NY 10022, USA

See Similar Deals
Industrial1,149,350 SF
Financed 06/15/2018
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$297
Total Square Footage:1,149,350 SF
Transaction Type:Loan

The industrial property located at 850 Third Avenue in Sunset Park, Brooklyn has been involved in a closed transaction. The property, which is owned by Salmar Properties, has attracted a loan amount of $300,000,000 from blackstone''>Blackstone Mortgage Trust, Madison Capital, Meadow Partners, and Acadia Realty Trust. This significant loan reflects the value and potential of the property in the industrial market.

Summary of Transaction Details

  • Property Type: Industrial
  • Transaction Amount: $300,000,000
  • Lender: Blackstone Mortgage Trust, Madison Capital, Meadow Partners, Acadia Realty Trust
  • Landlord: Salmar Properties

Noteworthy individuals and companies involved in this deal include Kathleen McCarthy, Kenneth Bernstein, Jonathan Gray, Richard Wagman, and Ken Caplan. These professionals, representing their respective agencies, played crucial roles in facilitating the transaction.

Players

Dustin Stolly
267 deals$49.4B volume
BROKER

Jordan (Jordy) Roeschlaub
Newmark
324 deals$97.5B volume
BROKER

Paramount Group
LENDER


Details

FINANCED
IMAGE: Kathleen Mccarthy, Kenneth Bernstein, Jonathan Gray, Richard Wagman, Ken Caplan DATE: 01/17/2020 ADDRESS: 850 Third Avenue MARKET: Sunset Park, Brooklyn ASSET TYPE: Industrial LENDER: Blackstone Mortgage Trust, Madison Capital, Meadow Partners & Acadia Realty Trust LANDLORD: Salmar Properties LOAN AMOUNT: $300,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$342,000,000.00

Monthly NOI$2,280,000.00
Monthly Debt Service$2,161,672.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00