ACORE Capital Provides $156M Life Science Construction Loan For 45-18 Court Square In Long Island City

A $156 million life science construction loan has been secured for a property located at 45-18 Court Square in Long Island City, Queens. The loan was provided by ACORE Capital to assist with the development of the property, which spans a total of 267,000 square feet.

Summary of transaction details

• Property Type: Life Science
• Transaction Amount: $156,000,000
• Address: 45-18 Court Square, Long Island City, Queens
• Market: Long Island City, Queens
• Lender: ACORE Capital
• Landlord: King Street Properties, GFP Real Estate
• Brokers: JLL - Steve Klein, Geoff Goldstein, Alex Staikos

The loan will support the construction of the life science facility on the property. The project is being overseen by King Street Properties and GFP Real Estate, who are the landlords of the property. JLL, represented by Steve Klein, Geoff Goldstein, and Alex Staikos, facilitated the deal as the brokers involved in the transaction.