JLL Secures $176.5M Recapitalization Loan For Mixed-Use Property In Downtown Brooklyn
FINANCED
$176,450,000
New York
See Similar DealsMixed-use194,000 SF
Financed 08/23/2021
FINANCED
JLL Secures $176.5M Recapitalization Loan For Mixed-Use Property In Downtown Brooklyn
1 Boerum Place, Brooklyn, NY 11201, USA
See Similar DealsMixed-use194,000 SF
Financed 08/23/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$909
Total Square Footage:194,000 SF
Transaction Type:Loan
A mixed-use property located at One Boerum Place in Downtown Brooklyn has recently undergone a recapitalization transaction. The property spans over 194,000 square feet and is situated in a bustling market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $176,450,000
- Loan Type: Recapitalization
- Loan Terms: Senior + Mezzanine
The loan for this property was provided by quadreal''>QuadReal and Global Holdings Management Group. The landlord of the property is Avery Hall Investments, Aria Development, and Allegra Holdings. The deal was facilitated by brokers Christopher Peck, Peter Rotchford, and Alex Staikos from JLL.
Players
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$176,450,000.00
Monthly NOI$1,176,333.33
Monthly Debt Service$1,115,284.03
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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