OakNorth Bank Provides $83.5 Million Financing For Development Site In Mineola With AJM Real Estate

The asset involved in the transaction is a development site located at 55 Mineola Boulevard in Mineola. The site is part of a larger project known as The Bridge, which consists of 101 condominium units. The financing for this asset was provided by OakNorth Bank in the amount of $83,500,000, serving to restore leverage on a previously secured $111.3 million loan that was taken out by Lionheart Strategic Management and Schroders Capital for the development project.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $83,500,000
• Lender: OakNorth Bank
• Landlord: AJM Real Estate & Scott Burman - Burman Real Estate
• Broker: Cushman & Wakefield

This transaction was facilitated by key players including Lionheart Strategic Management, which is involved in the development of The Bridge project. The landlord representation was provided by AJM Real Estate and Scott Burman from Burman Real Estate, highlighting the collaborative effort in managing the financial aspects of this development endeavor.