Natixis Provides $57.5 Million Senior Financing on Downtown Brooklyn Office Building
Natixis Real Estate Capital LLC provided $57,500,000 senior financing on a 140,880 square foot office building in Downtown Brooklyn. The Property is owned by Long Wharf Real Estate Partners, a Boston-based private equity real estate manager, and Treeline Companies, a New York City-based developer and investor. Loan proceeds were used to refinance the existing debt and will be available to fund the repositioning of the asset into a premier Class A office building.
Located at 195 Montague Street in the Downtown Brooklyn office submarket, the property is anchored by WeWork, the preeminent co-working space provider to entrepreneurs, small businesses, and Fortune 500 companies. 195 Montague will be WeWork’s second location in Brooklyn and serve as one of the company’s flagship locations. Santander Bank prominently occupies 6,573 square feet on the ground floor along Montague Street, the primary retail corridor for Brooklyn Heights residents. Downtown Brooklyn is the business, cultural, and governmental center of the borough, which would rank as the fourth most populous city in the nation, behind only the other boroughs of New York City combined, Los Angeles, and Chicago.
Natixis is actively lending on office and other property types in Brooklyn and the greater New York market.
The financing was arranged by Christopher Peck and Geoff Goldstein from the New York office of HFF.