Värde Partners, a global investment firm specializing in credit and credit-related assets, provided an affiliate of Acumen Capital Partners LLC with a $125-million loan to refinance 630 Flushing Ave., a flex industrial and manufacturing property in Brooklyn. The three-year, floating-rate loan was arranged by Jason Gaccione and Jake Salkovitz of CBRE.
Originally developed in 1849 as the headquarters of Pfizer Inc., the property spans three contiguous parcels totaling 7.8 acres. Since its acquisition by the current owners in 2011, the site has undergone extensive capital improvements. The property is currently 88% leased.
“It is an honor to work alongside Acumen Capital Partners in support of this historic property that has been skillfully repositioned to meet the needs of a diverse tenant base,” said Värde managing director. “At Värde, we strive to be a true partner in our lending relationships, providing flexible capital solutions that help drive successful long-term business objectives.”
The post Värde Provides $125M Refi on Brooklyn Flex Industrial appeared first on Connect CRE.
