Cushman & Wakefield Closes $33.8 Million Loan in Brooklyn
Cushman & Wakefield is pleased to announce the closing of a $33.8 million loan, collateralized by a portfolio of 12 mixed-use properties in Brooklyn’s Williamsburg neighborhood. The loan features a 5-year term, 3.40% interest rate, and 30-year amortization. All of the properties are located in Williamsburg in close proximity to the L train line.
“This was our second time financing this portfolio in the last three years. We successfully consolidated three loans in to one and were able to help the sponsor monetize recent property enhancements and return capital to shareholders. The efficient execution we achieved was the result of a great team effort on all parts including the lender and sponsor,” said Cushman & Wakefield’s Morris Betesh, who exclusively handled this transaction.