Blackstone, Goldman Sachs, KKR, Oaktree Capital Provide $1.25B Construction Loan For Mixed-Use Development In West Chelsea

The Terminal Warehouse located at 261 11th Ave. in West Chelsea has recently closed a significant loan deal. The mixed-use property, designed by COOKFOX Architects, served as the subject of the transaction. The loan, totaling $1,250,000,000, was obtained as a construction loan.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $1,250,000,000
• Market: West Chelsea
• Lender: blackstone''>Blackstone, Goldman Sachs, KKR, Oaktree Capital Management, and Paramount Group
• Landlord: L&L Holding Company and Columbia Property Trust
• Architect: COOKFOX Architects

The loan was secured from prominent lenders, including Blackstone, Goldman Sachs, KKR, Oaktree Capital Management, and Paramount Group. L&L Holding Company and Columbia Property Trust served as the landlords in the deal. The esteemed architectural firm COOKFOX Architects contributed to the design of the Terminal Warehouse.