YONKERS—JP Morgan Asset Management has provided a $80 million refinance loan for a 435,000-square-foot warehouse facility that is fully-leased to a credit tenant here.
Cushman & Wakefield served as the exclusive adviser to Alfred Weissman Real Estate, LLC in the financing for the property, which is located at 555 Tuckahoe Road. JP Morgan Asset Management provided the fixed-rate loan on behalf of one or more investors.
A Cushman & Wakefield Equity, Debt & Structured Finance team of Gideon Gil, Zachary Kraft and Meredith Donovan represented the borrower.
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"JP Morgan was able to strategize and underwrite with our client during the depths of the COVID-19 crisis to provide a customized financing solution," said Gil in prepared remarks. "Financing for high-quality industrial product with credit tenancy and quality sponsorship remains exceptionally strong."
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
