The Michaels Organization, Triangle Equities & Geolo Capital Secures $85 Million Refinance Loan From PNC Real Estate

The asset involved in this transaction is a multifamily property located at 111 Willoughby Street in Downtown Brooklyn, comprising a total of 227 units. The loan amount for the refinancing of this property is $85,000,000, provided by PNC Real Estate.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $85,000,000
• Address: 111 Willoughby Street
• Market: Downtown Brooklyn
• Units: 227
• Lender: PNC Real Estate
• Borrower: The Michaels Organization, Triangle Equities & Geolo Capital
• Brokers: Geoff Goldstein & Steven Klein - JLL
• Loan Type: Refinance

The transaction is represented by brokers Geoff Goldstein and Steven Klein from JLL, who facilitated the refinancing deal between the lender and the borrowing entities, which include The Michaels Organization, Triangle Equities, and Geolo Capital.