JDS Development Group Secures $115M Loan From Fortress In Brooklyn Office Deal
9 Dekalb Ave, Brooklyn, NY, 11201
$115,000,000
Building Size
—
Asset Type
Office
Closing
Dec 22, 2015
About this deal
AI
The property at 9 Dekalb Ave, Brooklyn, NY, 11201, is an office asset located in the Brooklyn market. The loan for this property was secured on December 22, 2015, with a substantial amount of $115,000,000.00. The borrower in this transaction was JDS Development Group, represented by Robert Verrone of Iron Hound Management Company, while the lender was Fortress Investment Group.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $115,000,000.00
- Address: 9 Dekalb Ave, Brooklyn, NY, 11201
- Market: Brooklyn
- Borrower: JDS Development Group
- Borrower's Rep: Robert Verrone (Iron Hound Management Company)
- Lender: Fortress Investment Group
Robert Verrone from Iron Hound Management Company served as the borrower's representative in this deal with JDS Development Group. Fortress Investment Group, on the other hand, acted as the lender in the transaction. The significant loan amount of $115,000,000.00 indicates the scale and value of this real estate endeavor.
On the Map
$115,000,000
Office
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Players
Brooklyn Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93