HIG Realty in $214M Brooklyn Property Loan Origination
H.I.G. Realty Partners, the real estate arm of alternative investment firm HIG Capital, has originated a loan to finance the Paxton, a 43-story mixed-use development located in Downtown Brooklyn,NY.
The Property is nearing completion with an anticipated opening in the fall of this year. The Paxton has 327 luxury apartment units, 109,000 SF of Class A office space, and 21,000 SF of retail space with frontage along Fulton Street. The Paxton has high-end finishes and offers excellent connectivity to the rest of New York City.
“We are excited to be a part of such a well-built, well-located property in the growing Downtown Brooklyn market,” said Michael Mestel, Managing Director at H.I.G. Realty Partners. He added, “We are looking forward to the project’s completion and the delivery of the Property’s top-of-the-line apartments and commercial spaces.”
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