Kenneth Bernstein Of Acadia Realty Trust Acquires $117.6M Note From Blackstone Group In Brooklyn

Acadia Realty Trust acquired a senior mortgage loan from Blackstone Group, involving a total amount of $117.6 million. The loan is secured by the Liberty View Industrial Plaza, which spans an area of 1.1 million square feet located at 850 and 870 3rd Avenue in Greenwood Heights, Brooklyn.

Summary of transaction details:

• Property Type: Note/Loan
• Transaction Amount: $117,600,000
• Buyer: Kenneth Bernstein - Acadia Realty Trust
• Seller: Blackstone Group
• Address: 850 3rd Avenue & 870 3rd Avenue
• Market: Greenwood Heights, Brooklyn

This transaction highlights the involvement of Kenneth Bernstein representing Acadia Realty Trust in acquiring the financing from Blackstone Group. The distinct roles of each party underline the structured nature of this financial arrangement, emphasizing the focus on securing a significant asset within the industrial sector.