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CushWake Lines Up Acquisition Debt for Downtown BK Rentals

Cushman & Wakefield arranged $57 million in acquisition financing for the multifamily rental portion of 1 Flatbush Ave., a newly-built mixed-use property in downtown Brooklyn. The fixed rate loan was provided by USAA Real Estate.

A Cushman & Wakefield Equity, Debt & Structured Finance team of Gideon Gil, Alex Lapidus and Maya Steinberger represented the undisclosed borrower in the financing. Investment sales specialists Adam Spies, Adam Doneger, Dan O’Brien and Avery Silverstein advised the seller, Meadow Partners and Slate Property Group, in the sale of the project’s multifamily component.

“USAA Real Estate had conviction about the caliber of this new property and the institutional sponsorship,” said Gil. “Their unwavering commitment during a difficult period in the capital markets ensured a timely execution for our client. USAA Real Estate provided a custom debt solution that was perfect for this acquisition.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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