Värde Partners Provides $125M Loan for Refinancing of Brooklyn Industrial Building
Värde Partners, a Minneapolis-based lender, has provided a $125 million loan for the refinancing of an industrial building in Brooklyn.
The building, located at 630 Flushing Ave., sits on a 7.8-acre site and totals roughly 575,000 square feet. Originally constructed in 1849 as the headquarters of Pfizer, it was 88 percent leased at the time of the loan closing.
Jason Gaccione and Jake Salkovitz of CBRE arranged the three-year, floating-rate loan on behalf of the owner, an affiliate of Acumen Capital Partners LLC.
- Loan amount: $125 million
- Building location: 630 Flushing Ave., Brooklyn
- Building size: roughly 575,000 square feet
- Occupancy rate: 88 percent
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Author's summary: Värde Partners provides $125M loan for Brooklyn industrial building refinancing.