Goldman Sachs has closed on a $57M loan for its acquisition
of the 183-unit rental tower at 1 Flatbush Avenue from Meadow Partners and
Slate Property Group.
Cushman & Wakefield served as the exclusive adviser in
the procurement of the financing for brand new, Class A mixed-use property in Downtown
Brooklyn. The fixed rate loan was provided by USAA Real Estate.
Goldman Sachs declined to comment on the deal, but TRD first
reported the bank was in contract to buy the apartment condominium for about
$100 million. The purchase doesn’t include a retail component that was also on
offer when the property hit the market last year with a $150 million price tag.
A Cushman & Wakefield Equity, Debt & Structured
Finance team of Gideon Gil, Alex Lapidus and Maya Steinberger represented the
borrower in the financing, while Cushman & Wakefield Investment Sales
specialists Adam Spies, Adam Doneger, Dan OBrien and Avery Silverstein
represented the seller, Meadow Partners and Slate Property Group, in the sale
of the multifamily condominium.
“USAA Real Estate had conviction about the caliber of this
new property and the institutional sponsorship. Their unwavering commitment
during a difficult period in the capital markets ensured a timely execution for
our Client,” said Gideon Gil. “USAA Real Estate provided a custom debt solution
that was perfect for this acquisition.”
