It was another big week of financings as the top five deals all exceeded $100 million, including a massive $575 million that JMB Realty secured for an office development in Los Angeles. The other big deals include the Brodsky Organization and Greenland USA getting $475 million for a residential tower in Brooklyn, and Clipper Equity landing $105 million in construction financing for the renovation of the former Sears department store building in Brooklyn.
Loan Amount | Lender | Borrower | Address | Asset | Broker |
---|---|---|---|---|---|
$575 million | Cale Street Partners | JMB Realty | 1950 Avenue of the Stars; Los Angeles | Office development | N/A |
$415 million | M&T Bank | The Brodsky Organization and Greenland USA | 18 Sixth Avenue; Brooklyn | Residential | N/A |
$216 million | MF1 Capital | Gotham Organization and The Carlyle Group | 200 West 67th Street; Manhattan | Residential | CBRE’s Tom Traynor, Tom Rugg, Lawrence Britvan and Adam Spengler |
$113 million | Apollo | Faropoint | 29-property portfolio; National | Industrial | Key Bank Real Estate Capital’s Joshua Mayers |
$105 million | Valley National Bank | Clipper Equity | 2201 Beverly Road; Brooklyn | Multifamily | Landstone Capital Group’s Leah Paskus |
Finance Deals of the Week reflect deals closed or announced from April 1 to April 5. Information on financings can be sent to editorial@commercialobserver.com.