JLL arranges $97m loan on Brooklyn, Queens retail portfolio

JLL’s Capital Markets team announced this week that it arranged a $97 million refinancing the Crown Retail Portfolio, a seven property portfolio with in Brooklyn and Queens. Goldman Sachs provided the loan to Crown Acquisitions.

JLL’s Capital Markets team announced this week that it arranged a $97 million refinancing the Crown Retail Portfolio, a seven property portfolio with in Brooklyn and Queens. Goldman Sachs provided the loan to Crown Acquisitions.

The Brooklyn portion of the portfolio features five Walgreens locations, one TD Bank and one Northfield bank location. The Queens locations include a CVS, Duane Reade and a Planet Fitness.

Untitled“The portfolio features credit-grade tenants with long-term leases in Brooklyn and Queens’ highly trafficked areas,” said JLL managing director Aaron Appel, who led the deal with SVP Mark Fisher and VP Mark Kindrachuk, in a prepared statement. “Driven by experienced sponsorship, this portfolio is well-positioned to continue its strong performance.”

The team did not immediately respond to requests for additional comments on the loan and its terms.

The addresses include 1501 86th Street (pictured) and 6628 18th Avenue in Brooklyn, and 38-02 Junction Boulevard and 329 Wyckoff Avenue in Queens, according to a report from The Real Deal.

In February, Goldman Sachs provided $815 million in financing to Veritas Investments on a portfolio of 62 mixed-use multifamily apartment properties in San Francisco. The properties include retail and other commercial space.

JLL Capital Markets completed $140 billion in investment sales, debt and equity transactions globally in 2015. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

SHARE