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.
The second portfolio consists of two mixed-use free market buildings. 126 Bedford Ave. is a four-story
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