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Creative Office Grows in Brooklyn

NEW YORK CITY—A Bushwick-area industrial property is set for acquisition and conversion now that it has secured mortgage financing

By Rayna Katz | Updated on October 19, 2015

NEW YORK CITY—Joint venture partners Lincoln Property Co. and Alcion Ventures have taken just over $51 million in first mortgage financing for 1300 Flushing Ave., a six-story warehouse and distribution building in the Bushwick section of Brooklyn. The borrowers plan to use the funds to acquire and reposition the asset.

The three-year, floating-rate loan includes two one-year extension options with Mack Real Estate Credit Strategies. It was secured on behalf of the JV partners by Holliday Fenoglio Fowler‘s senior managing director Doug Bond, managing director Mark Wintner and associate director Christopher Peck.

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