Invictus Real Estate Partners provides $62.25 million loan for mixed-use development

Brooklyn, NY Invictus Real Estate Partners has closed a $62.25 million construction loan for a 162,000 s/f mixed-use development project in the Prospect Lefferts Gardens neighborhood. The loan will support the construction of the seven-story building located at 1730 Bedford Ave., two blocks away from Prospect Park.

Developed by Seventh Street Development Group, the project combines residential, commercial, and retail spaces, and will be home to a new Lidl grocery store in Prospect Lefferts Gardens neighborhood.

“Invictus has emerged as an active private equity lender in commercial real estate, demonstrating our expertise in offering flexible solutions across the capital structure,” said Christopher Pardo, co-founder and managing partner. 

“This transaction exemplifies our ongoing commitment to meeting diverse client needs, especially in the current climate. We fully acknowledge the challenges of getting deals approved in today’s environment, and in this instance, the deal economics and sponsor experience surpassed the necessary requirements to navigate these demanding market conditions,” said Eric Scheffler, Invictus’ co-founder and managing partner.

A highlight of the development will be the highly anticipated Lidl supermarket, occupying an impressive 33,000 s/f. The grocery store will offer a bakery, fresh produce, floral, meats and seafood sections, as well as other everyday grocery essentials.

“Amidst the current market conditions, Invictus remains dedicated to delivering comprehensive financing solutions tailored to diverse situations and property types within the real estate sector,” said Pardo. “Invictus is actively extending tailored financing solutions to developers and borrowers that benefit from more flexible financing options than typical bank loans provide.”