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Carlyle Group Secures $57.8M Loan From Invesco Real Estate For Brooklyn And Queens Properties
FINANCED
$57,755,016
New York
See Similar DealsMultiFamily290,406 SF
Financed 09/25/2023
FINANCED
Carlyle Group Secures $57.8M Loan From Invesco Real Estate For Brooklyn And Queens Properties
1217 Decatur Street, 212 Malcolm X Boulevard & 116 Wyckoff Avenue
See Similar DealsMultiFamily290,406 SF
Financed 09/25/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$198
Total Square Footage:290,406 SF
Transaction Type:Loan
Carlyle Group has secured a $57.8 million loan from Invesco Real Estate to finance the acquisition of 27 properties in Brooklyn and Queens. The properties consist of multi-family and mixed-use buildings, totaling approximately 96,802 square feet of space. The portfolio includes 96 residential units, making it a significant investment in the Bushwick and Bedford Stuyvesant neighborhoods.
Summary of transaction details
- Property Type: MultiFamily & Mixed-use
- Transaction Amount: $57,755,016
- Address: 1217 Decatur Street, 212 Malcolm X Boulevard & 116 Wyckoff Avenue
- Market: Bushwick & Bedford Stuyvesant, Brooklyn
- Building Square Footage: 96,802
- Number of Units: 96
The loan provided by Invesco Real Estate will enable Carlyle Group, represented by Jason Hart, to further expand their portfolio in Brooklyn and Queens. This transaction reflects the ongoing investment activity and confidence in the neighborhoods of Bushwick and Bedford Stuyvesant, demonstrating the potential for growth and returns in the local real estate market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$57,755,016.00
Monthly NOI$385,033.44
Monthly Debt Service$365,050.99
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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