Whale Square Brooklyn

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

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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

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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

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

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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

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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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