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CushWake Lines Up $163M Financing for Brewster Industrial
Cushman & Wakefield advised Lincoln Equities Group and H.I.G. Realty Partners in procuring $163,250,000 in acquisition and construction financing for the Brewster Distribution Center in New York’s Putnam County, just north of Westchester County. Heitman provided the loan.
A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Chuck Kohaut, TJ Sullivan and Meredith Donovan represented the borrower.
“The debt capital markets continue to show strong interest in infill industrial projects for top-tier sponsors,” said Alascio. “This project certainly fits that box with a best-in-class partnership of Lincoln Equities Group and H.I.G. combined with a unique location east of the Hudson River that is proximate to New York City and adjacent to multiple Interstates.”
The property totals 328 acres and has a fully approved site plan to develop 921,000 square feet across two Class A industrial facilities. Delivery is expected for 2023.
- ◦Financing
