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Office Condo Sale at 12 MetroTech Garners $106M Financing
Cushman & Wakefield arranged $106 million in acquisition financing for the office condominium at 12 MetroTech Center in Downtown Brooklyn. 60 Guilders purchased the office condominium for $128 million.
A Cushman & Wakefield Equity, Debt & Structured Finance team of Gideon Gil, Lauren Kaufman, Steve Kohn and Alex Hernandez arranged the five-year, interest-only loan through Starwood Property Trust on 60 Guilders’ behalf. Reportedly it’s one of the largest office financings to close in Brooklyn since the beginning of the COVID-19 pandemic.
Doug Harmon, Adam Spies, Adam Doneger, Dan O’Brien, Rachel Humphrey and Meaghan Philbin of Cushman & Wakefield’s capital markets team brokered the sale of the asset.
“This transaction represented an exceptional opportunity for lenders given the sponsorship profile, creditworthy tenants and long-term leases,” said Gil. “Despite recent uncertainty from the COVID-19 pandemic, lenders were ultimately attracted to the property’s secure cash flow, lengthy remaining lease term and best-in-class sponsorship.”
- ◦Sale/Acquisition
- ◦Financing
