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Blackstone, Bank Of China, Deutsche Bank, And SL Green Realty Provide $720M Loan For IndustryCity In Sunset Park, Brooklyn

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FINANCED
$720,000,000

New York

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Industrial60,000,000 SF
Financed 12/19/2019
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FINANCED

Blackstone, Bank Of China, Deutsche Bank, And SL Green Realty Provide $720M Loan For IndustryCity In Sunset Park, Brooklyn

220 36th Street Suite #2-A, Brooklyn, NY 11232, USA

See Similar Deals
Industrial60,000,000 SF
Financed 12/19/2019
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$12
Total Square Footage:60,000,000 SF
Transaction Type:Loan

Located in Sunset Park, Brooklyn, the industrial property at IndustryCity has recently undergone a closed transaction. The deal involved multiple lenders, including blackstone''>Blackstone, Bank of China, Deutsche Bank, and SL Green Realty. The total loan amount for the transaction was $720,000,000, with the property spanning across 6,000,000 square feet.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $720,000,000
  • Address: IndustryCity, Sunset Park, Brooklyn
  • Market: Sunset Park, Brooklyn
  • Lender: Blackstone, Bank of China, Deutsche Bank, SL Green Realty
  • Landlord: Jamestown Properties & Belvedere Capital, Angelo Gordon & Co., Ruby Schron's Cammeby's International, Abraham Fruchthandler's FBE Limited
  • Square Footage: 6,000,000

The transaction was facilitated by key individuals including Andrew Matthias, Marc Holliday, Katheleen McCarthy, Jonathan Gray, Ken Caplan, Matt Bronfman, and Christian Sewing. The property's landlords were Jamestown Properties & Belvedere Capital, Angelo Gordon & Co., Ruby Schron's Cammeby's International, and Abraham Fruchthandler's FBE Limited.

Players

6 deals$1.6B volume
BROKER

Robert Verrone
31 deals$5.9B volume
BROKER

2 deals$845M volume
BROKER

Bank of China
LENDER


Details

FINANCED
IMAGE: Andrew Matthias, Marc Holliday, Katheleen Mccarthy, Jonathan Gray, Ken Caplan, Matt Bronfman & Christian Sewing DATE: 12/19/2019 ADDRESS: @IndustryCity MARKET: Sunset Park, Brooklyn ASSET TYPE: Industrial LENDER: @Blackstone, Bank of China, @DeutscheBank and @SLGreen_Realty LANDLORD: Jamestown Properties & Belvedere Capital, Angelo Gordon & Co., Ruby Schron’s Cammeby’s International & Abraham Fruchthandler’s FBE Limited LOAN AMOUNT: $720,000,000 SF: 6,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$720,000,000.00

Monthly NOI$4,800,000.00
Monthly Debt Service$4,550,889.77
Change in Cash Flow$0.00
Refinance Proceeds$0.00