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New York & Tri-State   /   January 8, 2021

Paul Bubny
By: Paul Bubny

CushWake Advises DH on Staten Island JV

Cushman & Wakefield advised DH Property Holdings LLC in the capitalization of 1900 South Ave., a 44-acre development site zoned for industrial on Staten Island’s West Shore. Cushman & Wakefield placed DH Property Holdings into the project via a joint venture and arranged the acquisition financing, which was provided by CIM Group.

A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Sri Vankayala, Chuck Kohaut, TJ Sullivan and Emily Johansen represented DH Property Holdings.

“The DH Property Holdings team did an outstanding job bringing this unique site under contract to purchase off market, recognizing its irreplaceable location in one of the most sought-after industrial markets in the country,” said Alascio. “DH Property Holdings immediately recognized the site’s tremendous potential and structured a JV partnership to redevelop the parcel, which will have wide-ranging appeal in the modern industrial market once fully realized.”

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About the Author

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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