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Triangle Equities Secures $85M Refinance Loan From LoanCore Capital For Terminal Logistics Center In Queens

Property Image
FINANCED
$85,000,000
Andrew Cohen
Max Herzog
+ 1

New York

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Industrial184,747 SF
Financed 07/11/2024
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Property Image
FINANCED

Triangle Equities Secures $85M Refinance Loan From LoanCore Capital For Terminal Logistics Center In Queens

Industrial184,747 SF
Financed 07/11/2024
Andrew Cohen
Max Herzog
+ 1
Contact now

Summary

Asset Type:Industrial
Price Per Square Foot:$460
Total Square Footage:184,747 SF
Transaction Type:Loan

The Terminal Logistics Center is located at 130-02 South Conduit Avenue in Queens, featuring an industrial asset encompassing 184,747 square feet. The loan amount for this transaction is $85,000,000, which is categorized as a refinance.

Summary of transaction details:

This transaction involves key figures such as Chad Jones and Brent Van Fossan from LoanCore Capital, who served as the lenders. The sponsors include influential personalities from Triangle Equities and Goldman Sachs Urban Investment Group, highlighting the collaboration among prominent entities in this refinancing deal.

Players

Marko Kazanjian
69 deals$5.2B volume
BROKER

Max Herzog
Institutional Property Advisors
77 deals$5.3B volume(212) 430-5165
BROKER

Andrew Cohen
Institutional Property Advisors
41 deals$2.8B volume
BROKER

Maxwell (Max) Hulsh
Institutional Property Advisors
31 deals$2.6B volume(646) 549-3692
BROKER

LoanCore Capital
LENDER

Details

FINANCED
IMAGE: Josh Weingarten, Evan Petracca, Max Herzog, Marko Kazanjian, Andrew Cohen, Max Hulsh, Chad Jones & Brent Van Fossan DATE: 07/11/2024 ADDRESS: Terminal Logistics Center - 130-02 South Conduit Avenue MARKET: Queens ASSET TYPE: Industrial ~ SF: 184,747 LENDER: Chad Jones & Brent Van Fossan - LoanCore Capital SPONSORS: Josh Weingarten & Evan Petracca - Triangle Equities, Michael Lohr - Goldman Sachs Urban Investment Group (UIG) BROKERS: Max Herzog, Marko Kazanjian (@MarkoKaz), Andrew Cohen (@The_Andrew_Cohen) & Max Hulsh (@MaxHulsh) - Institutional Property Advisors (IPA) LOAN AMOUNT: $85,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$85,000,000.00

Monthly NOI$566,666.67
Monthly Debt Service$537,257.82
Change in Cash Flow$0.00
Refinance Proceeds$0.00