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New York & Tri-State  + New York  + Finance  | 

JLL Arranges $150M Bridge Financing for Brooklyn’s 10 Jay Street

New York-based Glacier Global Partners and Triangle Assets secured $150-million in bridge financing for 10 Jay Street in Brooklyn. Acore Capital provided the loan, which will be used to repay existing debt, complete construction and fund future leasing costs at the newly redeveloped 10-story, Class A mixed-use asset.

The building sits on the waterfront of the East River at the entrance of the newly developed 85-acre Brooklyn Bridge Park in Dumbo, Brooklyn. The 221,501-square-foot building, which dates back to 1897, is in the final stages of a multi-million-dollar overhaul that includes installing an all-glass façade facing the East River.

JLL’s Kellogg Gaines and Aaron Niedermayer led the team on the financing, along with Dustin Stolly.

“Not only does 10 Jay Street boast an irreplaceable waterfront location, but Glacier and Triangle have created a truly exceptional building that balances a modernized design with Dumbo’s industrial heritage,” said Gaines.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing