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Brookfield Asset Management And Tredway Secure $59.8 Million Refinance Loan From Freddie Mac

Property Image
FINANCED
$59,800,000
Bruce Flatt
Will Blodgett

New York

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MultiFamily
Financed 06/04/2025
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Property Image
FINANCED

Brookfield Asset Management And Tredway Secure $59.8 Million Refinance Loan From Freddie Mac

3385 Neptune Avenue & 3521 Neptune Avenue

See Similar Deals
MultiFamily
Financed 06/04/2025
Bruce Flatt
Will Blodgett
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

The asset involved in this transaction consists of multifamily properties located at 3385 Neptune Avenue and 3521 Neptune Avenue in the Coney Island market of Brooklyn. The total loan amount secured for these properties is $59,800,000, classified as a refinance loan.

Summary of transation details:

Both Bruce Flatt and Will Blodgett have acquired stakes in the two Pembroke-owned Coney Island rentals, facilitating the refinance loans from Freddie Mac as part of this transaction.

Players

Freddie Mac
Freddie Mac
LENDER
Will Blodgett
Tredway
Will Blodgett
4 deals$159.1M volume
LANDLORD
BM
Brookfield Asset Management
LANDLORD
Tredway
Tredway
LANDLORD

Details

FINANCED
IMAGE: Bruce Flatt & Will Blodgett DATE: 06/04/2025 ADDRESS: 3385 Neptune Avenue & 3521 Neptune Avenue MARKET: Coney Island, Brooklyn ASSET TYPE: Multifamily LENDER: Freddie Mac (@FreddieMacCorp) LANDLORD: Bruce Flatt - Brookfield Asset Management (@BrookfieldAssetManagement) & Will Blodgett - Tredway LOAN AMOUNT: $59,800,000 LOAN TYPE: Refinance NOTE: Brookfield Asset Management and Tredway acquired stakes in two Pembroke-owned Coney Island rentals and secured a combined $59.8M in refi loans from Freddie Mac.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$59,800,000.00

Monthly NOI$398,666.67
Monthly Debt Service$377,976.68
Change in Cash Flow$0.00
Refinance Proceeds$0.00