2021 Lawyers in Real Estate Awards
Last year, the Connect CRE team followed up our well-received Next Generation Awards and Women in Real Estate Awards with the inaugural Lawyers in Real Estate Awards. For...
2021 Women in Real Estate
Announcing the 2021 Winners for the Connect CRE Women in Real Estate Awards.
From hundreds of submissions, we have highlighted women with achievements and...
2021 Next Generation Awards
Connect Commercial Real Estate is proud to present the winners of our 2021 Next Generation Awards. In one of the most challenging years on record for the industry,...
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Sitex Group borrowed $119 million to buy and reposition a portfolio of industrial properties in the Red Hook neighborhood of Brooklyn.
“The sponsor’s strong track record and diligence on the site location enabled Meridian to tailor a financing structure that provided the client with the optimal flexibility of a balance sheet transaction with a very attractive loan-to-cost ratio,” explained Tal Bar-Or, senior managing director for Meridian Capital Group, which arrange the financing with a debt fund.
The portfolio fills 11.4 acres on the Brooklyn waterfront (pictured), including five two-story industrial assets at 44 Ferris St., 68 Ferris St., 100 Ferris St., 216 Sullivan St., and 242-300 Coffrey St. totaling 285,994 square feet of warehouse space, along with a 99,740-square-foot parking lot.
The buildings are part of a six-building site Sitex purchased earlier this year from Italian developer, Est4te Four for $105 million.