New York & Tri-State + Long Island + Finance | June 16, 2021

Long Island Office Portfolio Secures $350M Financing

Newmark, on behalf of Angelo, Gordon & Co. and the WE’RE Group, arranged a $350-million floating rate, securitized loan to finance 16 suburban office assets, spanning two million square feet across Long Island’s Nassau and Suffolk Counties. The Newmark team was led by Dustin Stolly and Jordan Roeschlaub, and the single asset single borrower (SASB) securitization was led by Barclays and Citi.

Consisting of both traditional and medical office, the portfolio is strategically located along Long Island’s North. All assets are located within proximity to major arterials, with the Nassau County assets nearby multiple highly renowned hospitals. The well-occupied and diversified portfolio is currently 89.3% leased to various tenants in the medical, finance and law industries.

Roeschlaub said, “Angelo Gordon has acquired an attractive portfolio with diversified cash flow. We were able to leverage our deep SASB experience to provide an accretive financing solution for the portfolio.”

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Newmark's StollyNewmark's Roeschlaub

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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