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Cushman & Wakefield Secures Greystone Financing for Lynbrook Apartments
Cushman & Wakefield served as the exclusive advisor to The Birch Group in obtaining $27,215,000 in acquisition financing for Cornerstone Yorkshire, a newly built multifamily property at 5 Freer St. in Lynbrook, within Long Island’s Nassau County. The loan was provided by Greystone.
A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Chuck Kohaut and TJ Sullivan represented the borrower.
“The property’s strong in-place cash flow with upside, exceptional infill location and top-tier sponsorship drove a highly competitive capital markets execution, even in a volatile market,” said Alascio. “We’re grateful for the opportunity to represent The Birch Group as they continue to expand their portfolio.”
Although The Birch Group’s wheelhouse has been in the New Jersey commercial sector, “we are always keen to invest in promising residential properties up and down the Eastern Seaboard,” said president and founder Mark Meisner.
- ◦Sale/Acquisition
- ◦Financing
