{"id":1004386136,"date":"2020-01-29T06:40:41","date_gmt":"2020-01-29T14:40:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004386136"},"modified":"2020-01-29T06:40:41","modified_gmt":"2020-01-29T14:40:41","slug":"l3-capital-lands-91m-refi-for-brooklyn-retail-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/l3-capital-lands-91m-refi-for-brooklyn-retail-portfolio\/","title":{"rendered":"L3 Capital Lands $91M Refi for Brooklyn Retail Portfolio"},"content":{"rendered":"
\"115<\/a>

115 N. Sixth St. Image via Google Street View<\/em><\/p><\/div>\n

L3 Capital has obtained a $90.5 million floating-rate loan to refinance an 85,000-square-foot retail portfolio in Brooklyn. JLL worked on behalf of the borrower to secure the mortgage for all 11 assets included in the deal. According to public records, Ladder Capital Finance originated the loan.<\/p>\n

\n

READ ALSO<\/strong>: Top 5 Retail Space Sales<\/a><\/p>\n

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All properties have significant frontages within a prime retail corridor in the borough\u2019s Williamsburg neighborhood, with the buildings located at 81-83, 85-87, 89, 91, 111, 113, 115 N. Sixth St., 108 and 104-106 N. Seventh St., 168-170 Wythe Ave. and Kent Corner. The portfolio is near the popular Bedford Avenue subway station, providing significant foot traffic. Williamsburg\u2019s waterfront area is also close, with residential projects such as those at the Domino Sugar Factory, 420 Kent Ave. and 285 Broadway St. leading to notable commercial growth in the area.<\/p>\n

L3 Capital started putting together the mixed-use portfolio in 2015 and, since then, the company has repositioned most of the properties. According to the firm\u2019s business plan, part of the loan proceeds will be used for new construction on three development parcels along Kent Avenue and North Sixth Street.<\/p>\n

JLL Senior Director Geoff Goldstein, Managing Director Rob Rizzi and Executive Vice President Brett Rosenberg handled the debt placement. Late last year, Goldstein was also part of the team that arranged a $350 million loan<\/a> for a 43-story office tower in Manhattan.<\/p>\n","protected":false},"excerpt":{"rendered":"

The properties have frontages along Kent and Wythe avenues, North Sixth, North Seventh and Berry streets. <\/p>\n","protected":false},"author":238,"featured_media":1004386139,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1600,21742,10,21749],"tags":[48572,38287,32796,36393,45104],"class_list":["post-1004386136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","category-retail","tag-brett-rosenberg","tag-geoff-goldstein","tag-jll","tag-l3-capital","tag-ladder-capital-finance"],"acf":[],"yoast_head":"\nL3 Capital Lands $91M Refi for Brooklyn Retail Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/l3-capital-lands-91m-refi-for-brooklyn-retail-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"L3 Capital Lands $91M Refi for Brooklyn Retail Portfolio\" \/>\n<meta property=\"og:description\" content=\"The properties have frontages along Kent and Wythe avenues, North Sixth, North Seventh and Berry streets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/l3-capital-lands-91m-refi-for-brooklyn-retail-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-29T14:40:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/115-N.-Sixth-St..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"996\" \/>\n\t<meta property=\"og:image:height\" content=\"746\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Laura Valean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/l3-capital-lands-91m-refi-for-brooklyn-retail-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/l3-capital-lands-91m-refi-for-brooklyn-retail-portfolio\\\/\"},\"author\":{\"name\":\"Laura Valean\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/2f8b737fce677cc406c08a2c29c1ff38\"},\"headline\":\"L3 Capital Lands $91M Refi for Brooklyn Retail Portfolio\",\"datePublished\":\"2020-01-29T14:40:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/l3-capital-lands-91m-refi-for-brooklyn-retail-portfolio\\\/\"},\"wordCount\":247,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/l3-capital-lands-91m-refi-for-brooklyn-retail-portfolio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2020\\\/01\\\/115-N.-Sixth-St..jpg\",\"keywords\":[\"Brett Rosenberg\",\"Geoff Goldstein\",\"JLL\",\"L3 Capital\",\"Ladder Capital Finance\"],\"articleSection\":[\"Finance\",\"New York\",\"News\",\"Northeast\",\"Retail\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/l3-capital-lands-91m-refi-for-brooklyn-retail-portfolio\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/l3-capital-lands-91m-refi-for-brooklyn-retail-portfolio\\\/\",\"name\":\"L3 Capital Lands $91M Refi for Brooklyn Retail Portfolio - 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