L&M Development Partners Secures $6 Million Refinance Loan For Retail Asset In Brooklyn

The asset involved in this transaction is a retail property located at 11 Broadway in Brooklyn, featuring a total square footage of 54,300. The refinancing loan for this property was set at $6,000,000, under a loan type categorized as refinance with terms of 5 years fixed and being non-recourse.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $6,000,000
• Loan Type: Refinance
• Loan Terms: 5 Years Fixed / Non-Recourse
• Landlord: L+M Development Partners
• Broker: Mike Hennessy - Scouter Capital

The transaction involved Mike Hennessy representing Scouter Capitalas the broker in this deal. The refinancing executed by L+M Development Partners allows them to manage financial positioning regarding the retail asset effectively.