Pembrook Capital closes $24.8 million bridge loan

Pembrook Capital Management, LLC has closed a $24.8 million bridge loan to fund the acquisition by McSam Hotel Group of a development site. Located on West 37th St. between Eighth and Ninth Aves., the current parking lots will be developed into a hotel. The site is situated in what is considered to be one of the area's hottest growth areas, in close proximity to Hudson Yards and the Javits Center, and will benefit from ongoing transportation improvements that are transforming the neighborhood. "In recent months we have responded to the increasing demand for first mortgage bridge financing, both here in New York and in other U.S. markets," said Stuart Boesky, CEO of Pembrook. "Experienced sponsors are in the market acquiring development sites and looking for debt financing. With this site in particular, we are financing a well-located parcel for a group that has a lengthy track record of development projects in New York." Pembrook works with real estate developers and investors to deliver financing for new construction, acquisition, and repositioning, focusing on primary and secondary markets with high barriers to entry. Since inception, Pembrook has originated or participated in over 65 investments totaling in excess of $700 million.

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Liberow and Benshar of Asset CRG Advisors arrange $18.1 million ground lease transaction for 358 Flatbush Ave. development site

Brooklyn, NY Asset CRG Advisors recently facilitated the disposition of 358 Flatbush Ave., a Brooklyn development site situated at the intersection of Park Slope and Prospect Heights overlooking Grand Army Plaza and Prospect Park.

BKM Capital Partners and Kayne Anderson Real Estate acquire a $1.8 billion portfolio of light industrial assets

BKM and Kayne Anderson acquire a $1.8b portfolio of light industrial assets

The Durst Organization inks 12,456 s/f lease

Marcus & Millichap arranges sale of skilled nursing facility in Hoosick Falls

M&M arranges sale of skilled nursing facility in Hoosick Falls

Pangram Labs signs 6,000 s/f lease at 25 Flatbush Ave.

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