Natixis Real Estate Capital has provided a 10-year, $59.5 million, fixed-rate CMBS loan to Diamond Properties for the refinance of The Park at Mount Kisco in Mount Kisco, New York, about 40 miles north of Midtown Manhattan in Westchester County.
The industrial warehouse at 333 North Bedford is a 611,954 sq ft facility that has been fully renovated to accommodate multiple tenants for office, retail, showroom, and sports and recreation uses.
Last year Diamond Properties, headed by James Diamond, paid $5 million to install 10-acres of rooftop solar panels at the property, which also serves as the firm’s headquarters.
Tenants include Grand Prix New York; Spins Bowl bowling; Safe Haven Self Storage; and the Saw Mill River East sports club.
Since its inception in 1993, Diamond Properties has acquired 58 properties, including office, warehouse, retail, residential, and land in five states and currently owns 44 of those properties totaling in excess of 3.7 million sq ft.
Natixis Real Estate Capital, a US subsidiary of Natixis, is a full-service direct lender specializing in CMBS originations and floating-rate structures for opportunistic property acquisition and repositioning situations.
It has the ability to underwrite the full capital stack, including first mortgage, mezzanine/b-note, and preferred equity.
Natixis is the international corporate, investment, insurance and financial services arm of Groupe BPCE, the second largest banking group in France with 35 million clients spread over two retail banking networks, Banque Populaire and Caisse d’Epargne.
The financing was arranged by Jones Lang LaSalle.