ACRES Capital Provides $35M Loan For Mixed-Use Property In Long Island City

The mixed-use property located at 23-20 Jackson Avenue in Long Island City has been involved in a closed transaction. The property, which is owned by The Vorea Group and Papamichael, was the subject of a deal secured by ACRES Capital as the lender. The transaction also involved the assistance of Marko Kazanjian from JLL, who represented the parties involved in the deal. The loan amount for this transaction was $35,000,000.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $35,000,000
• Lender: ACRES Capital
• Landlord: The Vorea Group – Papamichael
• Broker: Marko Kazanjian from JLL

Marko Kazanjian from JLL played a crucial role in representing the parties involved in this closed transaction. The property, situated in Long Island City, demonstrates its attractiveness in the market. With a loan amount of $35,000,000, this deal signifies a significant investment in the mixed-use asset.