Thelander and Whipple of MKSC close $4 million loan at Brookfield Place

Massey Knakal Capital Services (MKSC) has closed a $4 million unsecured line of credit arranged by Garrett Thelander and Bruce Whipple, on behalf of HPH. This line of credit will be used to construct the tenant improvements for a new French-themed, 30,000 s/f, boutique food market known as "Le District." The market will serve as the anchor food venue and focal point at Brookfield Place in the downtown area adjacent to the Winter Garden and North Cove Marina. The all-in rate for the financing was below 3% for an initial term of three years and provided by a private wealth lending institution. Le District will also include 6,800 s/f of outdoor dining space facing the Hudson Riverfront and is modeled after a French food marketplace. The landlord, Brookfield Office Properties, LLC, is nearing completion of a $250 million renovation to rebrand and upgrade all of the retail space in the 8.5 million s/f office complex. In addition, Le District will take advantage of all the completed transit, tourist, and office projects around the new One World Trade Center. HPH is an operator of 28 other successful food and beverage ventures that include Harry's Café and Steak, Harry's Italian, Financier, Ulysses, Stone Street Coffee, Dead Rabbit, Adriennes, City Rib, Vintry Wine, Bacchanal, Bathtub Gin, Grace and other venues. HPH views this new establishment as the crown jewel of their operations. "The loan was facilitated by the character and liquidity of the partners that comprise Le District. The company has a successful track record of operations and great restaurant concepts that have been a terrific success throughout Manhattan," said Whipple.