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Debt & Equity

BEB Capital refinances 135,000 s/f Port Washington office, warehouse property

BEB Capital has refinanced 12 Harbor Park Drive, situated in Harbor Park Corporate Park in port Washington, with a 4.25 percent, seven-year, $22.9 million mortgage arranged by Meridian Capital Group.

The 135,000 s/f office and warehouse building is one of four properties owned by BEB Capital in the corporate park.

The firm, which has extensive investments in real estate and other businesses, has its own headquarters at 26 Harbor Park Drive. BEB also owns 8 Harbor Park Drive, and acquired 55 Harbor Park Drive this past summer.

LEE BRODSKY

“Although we have holdings up and down the East Coast, our strongest commitment is to Long Island,” said CEO Lee Brodsky, noting that the firm owns a total of 17 properties in Nassau and Suffolk Counties.

“We’ve had a presence in Harbor Park for the past 45 years, and 12 Harbor Park Drive ranks among our most important assets.”

Bryan M. Kallenberg of Meridian Capital Group brokered the mortgage with a portfolio lender.

20“The quality of the property and its excellent tenant roster, together with BEB Capital’s long and solid operating history, enabled us to secure very favorable terms,” he said.
The loan will be repaid on a 30-year amortization schedule.
Tenants at 12 Harbor Park Drive include Kraus USA, the kitchen and bathroom fixtures manufacturer; Cintas uniform maker; and Luxottica sports eyewear firm.
BEB Capital is owned by the Brodsky family, Bert Brodsky. The BEB Capital team, led by Lee Brodsky, has some 100 years of combined institutional industry experience.

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