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JLL Closes Sale of Non-Performing Loan on Williamsburg Apartments
JLL Capital Markets arranged the sale of an $88-million non-performing loan secured by The Kent House, a new mixed-use building with 96 rental units and 31,000 square feet of multi-level retail in Brooklyn’s Williamsburg neighborhood.
The firm represented Prophet Capital in the disposition of the $78-million first mortgage and a $10- million mezzanine loan, acquired by Invictus Real Estate Partners. A JLL Capital Markets team of Brett Rosenberg, Scott Aiese, Steven Rutman and Bill Butler arranged the loan sale.
Located at 187 Kent Ave., the Kent House is a seven-story, 87,809-square-foot property with studio, one-, two- and three-bedroom apartments. All feature large windows, hardwood floors, stainless steel appliances, quartz countertops and individually controlled heating and cooling.
“This was a unique opportunity to acquire a non-performing whole loan directly from the original lender secured by a newly constructed mixed-use asset in a highly desirable market,” said Eric Scheffler of Invictus.
- ◦Sale/Acquisition
