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Barings Provides $58M to Refinance Newly Built Bushwick Apartments
JLL Capital Markets arranged a $58-million refinancing for 1333 Broadway, a newly constructed mixed-use multifamily property in Brooklyn’s Bushwick neighborhood. Senior managing directors Peter Rotchford and Rob Hinckley and senior director Robert Tonnessen represented a joint venture between Ekstein Development Group and Standard Real Estate Investments in securing the loan from Barings.
“Lenders continue to demonstrate conviction for well-located, newly delivered multifamily assets with durable cash flow fundamentals,” said Rotchford. “1333 Broadway’s proximity to transit, strong Bushwick market dynamics and meaningful tax benefits made this an attractive financing opportunity and enabled us to secure a strong outcome for ownership.”
Completed in April of this year, 1333 Broadway is a 20-story property comprising 106 residential apartments, including 74 market-rate and 32 affordable units. It also features approximately 29,000 square feet of commercial space, including retail frontage along Broadway and studio space.
- ◦Financing

