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JLL Arranges $91M Loan for Williamsburg Retail
JLL Capital Markets secured a $90.5-million loan to finance an 11-property retail portfolio totaling 85,000 square feet in Brooklyn’s Williamsburg neighborhood. The properties all have significant retail frontages along North 6th and North 7th streets, Kent Avenue, Wythe Avenue and Berry Street.
JLL’s Geoff Goldstein, Rob Rizzi and Brett Rosenberg worked on behalf of L3 Capital LLC to place the floating-rate loan. The assets include:
• 81-83 N. 6th St.
• 85-87 N. 6th St.
• 89 N. 6th St.
• 91 N. 6th St.
• 111 N. 6th St.
• 113 N. 6th St.
• 115 N. 6th St.
• 108 N. 7th St.
• 104-106 N. 7th St.
• 168-170 Wythe Ave.
• Kent Corner
L3 Capital started assembling the mixed-use portfolio in 2015 and has successfully repositioned a majority of the properties. The new joint venture will continue to execute the portfolio’s established business plan, including construction on the three development parcels along Kent Avenue and North 6th.
Rendering of Williamsburg portfolio courtesy of L3.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
