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Read Property And Princeton Holdings Refinance Warehouse In Bushwick, Brooklyn For $100M

Property Image
FINANCED
$100,000,000
RW
JT

New York

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Other304,080 SF
Financed 05/01/2018
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Property Image
FINANCED

Read Property And Princeton Holdings Refinance Warehouse In Bushwick, Brooklyn For $100M

930 Flushing Ave, Brooklyn, NY 11206, USA

See Similar Deals
Other304,080 SF
Financed 05/01/2018
RW
JT
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Other
Price Per Square Foot:$328
Total Square Footage:304,080 SF
Transaction Type:Loan

The warehouse located at 930 Flushing Avenue in Bushwick, Brooklyn has been refinanced. The transaction, which took place on May 1, 2018, involved a loan amount of $100,000,000. This property asset is owned by Read Property, represented by Robert Wolf and Princeton Holdings, represented by Joseph Tabak.

Summary of transaction details

  • Property Type: Warehouse
  • Transaction Amount: $100,000,000
  • Address: 930 Flushing Avenue, New York
  • Market: Bushwick, Brooklyn
  • Landlord: Read Property - Robert Wolf & Princeton Holdings - Joseph Tabak
  • Lender: LoanCore Capital (subsidiary of GIC & CPPIB)

This refinancing deal involved LoanCore Capital as the lender. LoanCore Capital, a subsidiary of GIC and CPPIB, provided the loan to Read Property and Princeton Holdings for the warehouse at 930 Flushing Avenue. Joseph Tabak represented Princeton Holdings in this transaction.

Players

LoanCore Capital
LoanCore Capital
LENDER
RW
Robert Wolf
6 deals$100.1M volume
LANDLORD
JT
Joseph Tabak
3 deals$22.9M volume
LANDLORD

Details

FINANCED
IMAGE: Joseph Tabak DATE: 05/01/2018 REFINANCED: ADDRESS: 930 Flushing Avenue CITY: NewYork MARKET: Bushwick, Brooklyn ASSET TYPE: Warehouse LANDLORD: Read Property – Robert Wolf & Princeton Holdings – Joseph Tabak LENDER: LoanCore Capital – (subsidiary of GIC & CPPIB) AMOUNT: $100,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$100,000,000.00

Monthly NOI$666,666.67
Monthly Debt Service$632,068.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00