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Posted: September 26, 2023
Newmark arranges $90m refinancing for Aurora Capital, Midtown Equities and ACHS Management’s JV
Brooklyn, NY On behalf of a joint venture led by Aurora Capital Associates, Midtown Equities and ACHS Management, Newmark arranged the $90 million refinancing for 240 Bedford Ave., a 181,000 s/f class-A grocery-anchored mixed-use asset located in the Williamsburg neighborhood. The property is situated on the corner of North 4th St. and Bedford Ave.
The property is anchored by blue-chip tenants, featuring Whole Foods, Equinox, Chipotle, Citibank, and T-Mobile. The property’s rent roll also underscores its stability with a WALT of over 12 years.
The Newmark team was led by Dustin Stolly and Jordan Roeschlaub, co-presidents of debt & structured finance, senior managing director Daniel Fromm, director Benjamin Kroll, and analyst Alexander Saslove. Apollo Global Management provided the loan.
240 Bedford is the Bedford Ave. L Train and local/express buses. The property has 176-ft. of frontage on Bedford Ave.; this visibility and accessibility have been instrumental in drawing tenants and their customers.
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