Cushman & Wakefield acts as exclusive advisor to Angelo Gordon & Onyx Equities in $94 million financing

September 03, 2019 - Front Section

Orangetown/Clarkstown, NY According to Cushman & Wakefield, the firm served as the exclusive advisor to Angelo Gordon & Onyx Equities in the procurement of $94 million in financing for Bradley Corporate Park, a 17-building industrial and flex portfolio, totaling 1.176 million s/f, in Rockland County. The financing was provided by Bank of America.

A Cushman & Wakefield Equity, Debt & Structured Finance team led by John Alascio, Gideon Gil and Steve Kohn with Sridhar Vankayala, Zachary Kraft and Emily Johansen, represented Angelo Gordon & Onyx Equities.

“This transaction represented an exceptional opportunity for lenders given the experienced sponsorship profile and value-add nature of the deal,” said Alascio. “The industrial park has significant upside through management efficiencies and institutionalizing the rent roll. Our clients acquired the portfolio well equipped to introduce a capital plan to upgrade the buildings and cure deferred maintenance, renew and extend existing tenants and bring the park to an institutional standard.”

“Our clients were able to take advantage of the robust market conditions throughout this process,” said Gil. “We received strong lender feedback, ultimately selecting Bank of America as they demonstrated a clear understanding of the opportunity and business plan.”

Bradley Corporate Park was acquired in May.

Tags:

Comments

Add Comment


More from the New York Real Estate Journal