60 Guilders has secured a $106 million loan from Starwood
Property Trust for its acquisition of 12 Metrotech Center from Brookfield.
Cushman & Wakefield arranged the financing for the
purchase of the office condominium in Downtown Brooklyn. 60 Guilders purchased
the office condominium for $128 million.
A Cushman & Wakefield Equity, Debt & Structured
Finance team of Gideon Gil, Lauren Kaufman, Steve Kohn and Alex Hernandez
arranged the loan through Starwood Property Trust on behalf of the sponsor.
The 186,000 s/f office condo sits on the top five floors of
12 MetroTech Center and features a dedicated office lobby, while the lower 25
floors of the building are owned by the City of New York. The five-year, interest-only loan is one of
the largest office financings to close in Brooklyn since the beginning of the
“This transaction represented an exceptional opportunity for
lenders given the sponsorship profile, creditworthy tenants and long-term
leases,” Gil said. “Despite recent uncertainty from the COVID-19 pandemic, lenders
were ultimately attracted to the property’s secure cash flow, lengthy remaining
lease term and best-in-class sponsorship.”
Doug Harmon, Adam Spies, Adam Doneger, Dan OBrien, Rachel
Humphrey and Meaghan Philbin of Cushman & Wakefield’s capital markets team
brokered the sale of the asset.
Cole Schotz P.C. represented 12MTC Owner, LLC, a joint
venture between a hedge fund and Cole Schotz’s client, real estate private
equity firm 60 Guilders, LLC, in connection with the acquisition.
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