Chris (Jia Shu) Xu Secures $40M Refinance Loan For Rego Park Parking Lot From New Era Life Insurance

The property asset involved in the transaction is a parking lot located at 93-30 93rd Street in Rego Park, Queens. This asset has a buildable square footage of 840,139 and is associated with a refinance loan of $40,000,000. The lender for this loan is New Era Life Insurance, and the transaction replaces the existing debt from Maxim Capital.

Summary of transaction details:

• Property Type: Parking Lot
• Transaction Amount: $40,000,000
• Address: 93-30 93rd Street
• Market: Rego Park, Queens
• Lender: New Era Life Insurance
• Landlord: Chris (Jia Shu) Xu - United Construction & Development Group
• Asset Buildable Square Feet: 840,139
• Previous Lender: Maxim Capital

The key individuals involved in this deal include Chris (Jia Shu) Xu, who represents United Construction & Development Group as the landlord. The transaction highlights the involvement of New Era Life Insurance as the lender facilitating this refinancing, contributing to the financial restructuring of the associated property asset.