JV Secures $90M Refi for Williamsburg Mixed-Use Property
A joint venture led by Aurora Capital Associates, Midtown Equities, and ACHS Management has secured $90 million refinancing for 240 Bedford Avenue, an 181,000-square-foot Class-A mixed-use property in Williamsburg. Apollo Global Management provided the financing.
Located at the corner of North 4th Street & Bedford Avenue, 240 Bedford is a retail hub with tenants including Whole Foods, Equinox, and Citibank. With a 176-foot frontage on Bedford Avenue, the property has an over 12 years of Weighted Average Lease Term.
Newmark arranged the deal with a team led by Dustin Stolly, Jordan Roeschlaub, Benjamin Kroll, and Alexander Saslove.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.