Real Estate Weekly
Image default
Banking and Finance

Cushman & Wakefield arranges $94M for 17-building industrial park

Cushman & Wakefield, acting as the exclusive advisor to Angelo Gordon & Onyx Equities, has helped in the procurement of $94 million in financing for a 17-building industrial and flex portfolio with 1,176,706 s/f in Rockland County. The acquisition financing was provided by Bank of America.

A Cushman & Wakefield Equity, Debt & Structured Finance team led by John Alascio, Gideon Gil and Steve Kohn with Sridhar Vankayala, Zachary Kraft and Emily Johansen, represented Angelo Gordon & Onyx Equities.

“This transaction represented an exceptional opportunity for lenders given the experienced sponsorship profile and value-add nature of the deal,” said John Alascio of Cushman & Wakefield. “The industrial park has significant upside through management efficiencies and institutionalizing the rent roll. Our clients acquired the portfolio well equipped to introduce a capital plan to upgrade the buildings and cure deferred maintenance, renew and extend existing tenants and bring the park to an institutional standard.”

Bradley Corporate Park is a 17-building industrial portfolio located in Orangetown/Clarkstown in Rockland County. The property was acquired in May 2019 and was the largest commercial acquisition in Rockland County since 2016. Bradley Corporate Park is located just west of White Plains, New York, and forty-five minutes from Midtown Manhattan.

(Visited 1 times, 1 visits today)

Related posts

Safehold closes on BankNote ground lease as REIT continues push into sector

REW

$1.4B Labor Day savings plan for Gateway project

REW

TRANSACTIONS: Emerald Creek Capital places $13,200,000 bridge loan in Prospect Lefferts Gardens

REW