Marcus & Millichap’s IPA Capital Markets Division Arranges $85 Million Financing for New York City Industrial Condominium
25 Luglio 2024 - 9:13PM
Business Wire
IPA Capital Markets, a division of Marcus & Millichap
(NYSE:MMI), specializing in capital markets services for major
private and institutional clients, announced the $85 million
financing of a two-story, Class-A industrial space located at
130-02 S Conduit Ave in Queens, New York.
The Manhattan based IPA Capital Markets team of Max Herzog,
Marko Kazanjian, Max Hulsh and Andrew Cohen secured the financing
with LoanCore Capital on behalf of Triangle Equities and Goldman
Sachs Urban Investment Group.
“Triangle Equities successfully developed a premier, Class-A
industrial property in an exceptional location, which is now fully
leased to a strong tenant,” said Herzog. “The end product appealed
to the lending market, allowing our IPA team to negotiate favorable
financing terms for the sponsor, overcoming the challenges of the
current lending environment.”
The refinanced industrial condominium spans the first two floors
of Terminal Logistics Center, a newly built five-floor facility
designed for both industrial and self-storage purposes. The
rentable space totals 164,295 square feet with an additional
102,275 square feet of truck courts. Tenants include a global
airline catering services firm.
About IPA Capital Markets
IPA Capital Markets is a division of Marcus & Millichap
(NYSE: MMI). IPA Capital Markets provides major private and
institutional clients with commercial real estate capital markets
financing solutions, including debt, mezzanine financing, preferred
and joint venture equity, and sponsor equity. For more information,
please visit institutionalpropertyadvisors.com/capital-markets.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading national brokerage
firm specializing in commercial real estate investment sales,
financing, research and advisory services. As of December 31, 2023,
the Company had 1,783 investment sales and financing professionals
in over 80 offices who provide investment brokerage and financing
services to sellers and buyers of commercial real estate. The
Company also offers market research, consulting and advisory
services to our clients. Marcus & Millichap closed 7,546
transactions in 2023, with a sales volume of approximately $43.6
billion. For additional information, please visit
www.MarcusMillichap.com.
About Triangle Equities
Triangle Equities (Triangle) is a diversified, full-service real
estate company that develops, owns, and operates commercial,
residential, and mixed-use properties throughout New York and New
Jersey. Triangle focuses on high-barrier projects, including
public-private partnerships, public RFP’s, and - as experts in
city, state, and federal incentive programs - projects that require
various forms of subsidy. Triangle was founded in 1986 and has
developed nearly two million square feet of commercial and
residential real estate since its inception. Triangle currently has
over two million square feet in various stages of development,
including over 1,500 units of mixed-income residential. For
additional information, please visit
https://www.triangleequities.com/.
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version on businesswire.com: https://www.businesswire.com/news/home/20240725135933/en/
Media Contact: Gina Relva, VP of Public Relations
gina.relva@marcusmillichap.com
Grafico Azioni Marcus and Millichap (NYSE:MMI)
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Da Nov 2024 a Dic 2024
Grafico Azioni Marcus and Millichap (NYSE:MMI)
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Da Dic 2023 a Dic 2024
