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Wells Fargo Provides $1.8 Billion Refinance Loan For Blackstone Industrial Property In Brooklyn
FINANCEDIndustrial

Wells Fargo Provides $1.8 Billion Refinance Loan For Blackstone Industrial Property In Brooklyn

$1,800,000,000

Building Size

Asset Type

Industrial

Closing

Jul 8, 2025

AI

The transaction involves an industrial asset located in Brooklyn, with a refinancing loan amount of $1,800,000,000. The lender for this transaction is Wells Fargo, represented by Charles Scharf. The landlord of the property is Blackstone, with Jon Gray identified as the landlord.

Summary of transaction details:

This deal showcases the involvement of significant players in the financial and property management sectors, highlighting the roles of both the lender and the landlord representatives. The representation by Newmark indicates a structured collaboration aimed at facilitating the refinancing process.

Players

Nick Scribani

Newmark

Broker

$55.4B

vol

195 deals

Broker
Newmark
NewmarkBrokerage
Wells Fargo
Wells FargoLender
Jon Gray

Jon Gray

Blackstone

Landlord

$7.3B

vol

20 deals

Landlord
Blackstone
BlackstoneLandlord

Market Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.01%

Cash-on-Cash

-0.00%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93