Whale Square Brooklyn

Madison refis Whale Square with $90M loan 上海千花网龙凤论坛

Investor bough Brooklyn property for $82M in 2015

Josh Zegen and Whale Square (Credit: Google Maps)

Madison Realty Capital refinanced the 500,000-square-foot Whale Square building in Sunset Park with a $90 million loan from TPG Capital s mortgage arm.

TPG Real Estate Finance Trust, the private-equity firm 爱上海

s mortgage real estate investment trust, refinanced the $59.4 million remaining balance of a $63.2 million loan Deutsche Bank provided at the time of Madison’s acquisition, property records filed with the city Thursday show.

The REIT provided another $30.5 million in additional debt, according to records.

A spokesper爱上海同城论坛

son for TPG declined to comment, and a representative for Madison Realty could爱上海龙凤419桑拿

n’t be immediately reached.

Madison bought the seven-story building at 14 53rd Street — formerly known as the Brooklyn Whale Building — for $82.5 million in 2015, as investors were snapping up爱上海同城

industrial properties and repositioning them to attract office and creative tenants.

The building was listed at the time as 400,000 square feet. But after a re-measurement, Madison’s pegged it at 500,000 square feet.

In 2016, Urban Soccer signed a lease for 63,000 square feet at the site for its first indoor facility in the United States.

Tags: Commercial Real Estate, madison realty capital, Real Estate Finance
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