JLL’s Capital Markets experts have arranged a $104 million loan to refinance Redbridge, a mixed-use residential and retail property in Williamsburg, Brooklyn.
The group worked on behalf of RedSky Capital LLC, JZ Capital Partners Ltd. and Waterbridge Capital LLC to place the loan with JP Morgan Chase & Co.
Managing Director Jonathan Schwartz, along with Vice Chairman Aaron Appel, Associate Douglas Baillie and Analyst Sean Bastian, led the JLL Capital Markets team handling the debt assignment.
“RedSky Capital has established itself as a leading investor in Brooklyn,” said Schwartz. “Its Redbridge Portfolio is located on one of the most prosperous retail corridors in Brooklyn. This was a tremendous lending opportunity that was competitively bid.”
“We are thrilled to do this transaction with JP Morgan Chase as the firm is a world-class institution,” said Eyal Greenberg, senior vice president with RedSky Capital. “It is reflective of the quality of the Redbridge portfolio and its outstanding tenancy.”
Redbridge is comprised of approximately 85,000 s/f of residential and retail space and is located at 237 – 241 Bedford Avenue, 160 – 164 North 4th Street and 159 – 173 North 3rd Street in Williamsburg. RedSky Capital acquired the portfolio in 2012.
Retail tenants at Redbridge also include Sephora, Alo Yoga, Flywheel, by Chloe, Dig Inn, Sweetgreen and UVA Wines.
The portfolio also includes more than 20,000 s/f of retail space at 247 Bedford Avenue occupied by Apple Inc. and The Corcoran Group.
