A partnership between Innovo Property Group and Affinius Capital has secured a $334M financial package to recapitalize a 1M SF warehouse in the Bronx that opened last year and is occupied by Amazon as an anchor tenant.
Bank OZK provided a $250M senior mortgage on the new logistics center at 2505 Bruckner Boulevard, with PIMCO adding an $84M mezzanine loan. Cushman & Wakefield arranged the transaction.
OZK, based in Little Rock, AR (the OZK is short for Ozarks), also was the primary lender on a $305M construction loan for the project in 2020, along with EverWest Real Estate Investors.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
