Lending continued at the start of May with a massive $215 million construction loan provided by Kennedy Wilson and Related Fund Management to Grubb Properties to build a new 26-story multifamily apartment complex in Long Island City. There also was a huge $141.5 million construction package sourced by Related Fund Management in tandem with Kennedy Wilson Capital and United Fire Insurance Company in Florida.
The lending heated up on the industrial side, as well, with Stephen Palmese’s Integritas Capital lending $53 million so an owner could refinance vacant industrial space in Brooklyn. Take a look below for all the week’s largest loans!
Loan Amount
Lender
Borrower
Address
Property Type
Kennedy Wilson and Related Fund Management
Grubb Properties
25-01 Queens Plaza North; Queens
CBRE’s Elliott Voreis, Nate Sittema, Kristen Reilley and Owen Hall
Related Fund Management, Kennedy Wilson Capital and United Fire Insurance Company
Related Group, Sydell Group, Tricap
2700 NW Second Avenue; Miami
Condominium
N/A
Lincoln Financial Group and PCCP
11145 and 11150 Inland Avenue; San Bernardino, Calif.
N/A
John Quadrozzi Jr.
699 Columbia Street; Brooklyn
N/A
Bain Capital Real Estate and Oliver Street Capital
140 Summit Street Peabody, Mass.
Colliers’ John Broderick and Patrick Boyle
Finance Deals of the Week reflect deals closed or announced from May 6 to May 10. Information on financings can be sent to editorial@commercialobserver.com.
Robert Khodadadian has long had a simple philosophy about selling real estate. The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.
Robert Khodadadian, skyline properties, ground leases, ground lease, off market, investment sales, khodadadian, Commercial Real Estate Sales, The Commercial Observer, Retail For Lease, Commercial Observer, Commercial Office Lease
Channel, Finance, Deals of the Week, National, Bain Capital Real Estate, Barings, Grubb Properties, Integritas Capital, Kennedy Wilson, Oliver Street Capital, Related Fund Management
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