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$104M Refi for MXU in Brooklyn’s Williamsburg Neighborhood
A partnership between RedSky Capital LLC, JZ Capital Partners Ltd. and Waterbridge Capital LLC received $104 million to refinance Redbridge, a mixed-use residential and retail property in the Williamsburg area of Brooklyn, New York. JLL’s Capital Markets placed the loan with JP Morgan Chase & Co.
Redbridge is comprised of roughly 85,000 square feet of residential and retail space, and is located at 237 – 241 Bedford Ave., 160 – 164 North 4th St. and 159 – 173 North 3rd St. RedSky Capital acquired the portfolio in 2012.
Retail tenants at Redbridge include Sephora, Alo Yoga, Flywheel, by Chloe, Dig Inn and UVA Wines. The portfolio also includes more than 20,000 square feet of retail space at 247 Bedford Ave.
JLL’s Jonathan Schwartz and Aaron Appel led the 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.”
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