Search
 
News

Brooklyn Multi-Housing, Retail Portfolio Gets Recap

JLL Capital Markets arranges $27.7M financing package with Citigroup.

NEW YORK CITY—JLL Capital markets recently revealed that it arranged $27.7 million in financing to recapitalize a mixed-used residential and retail property portfolio located in prime neighborhoods across Brooklyn. JLL represented the borrower, a joint venture between The Mann Group, LLC, a New York-based residential investment, development and management firm led by Eric Mann, and True North Management, a private real estate investment firm, to secure two separate loans for $20.2 million and $7.5 million from Citigroup.

The first portfolio includes properties at 591, 592, 593, 595, 574 and 602 Manhattan Ave. and 872 Lorimer St. in Greenpoint. Currently 100 percent occupied, it includes 33 residential rental units all upgraded with modern finishes, stainless steel appliances and in-unit washer dryers, and six fully occupied retail units.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Natalie Dolce

Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.

More from this author

Recommended Stories

GlobeSt. Multifamily Fall 2024Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.