February 4, 2020 Comments Off on Blackstone-Led Team Recapitalizes $300M Brooklyn Complex Views: 760 New York News, Top New York

Blackstone-Led Team Recapitalizes $300M Brooklyn Complex

Liberty View Industrial Plaza, a 1.3 million-square-foot office and industrial facility in Brooklyn’s Sunset Park neighborhood, is being recapitalized by a group including Blackstone Mortgage Trust, Madison Capital, Meadow Partners and Acadia Realty Trust. The property has been valued at $300 million.

First mortgage financing was provided by Blackstone Mortgage Trust and a preferred investment was provided by Acadia. The waterfront building adjacent to Industry City was redeveloped for industrial and office use through a $130-million development program by Salmar Properties.

“This is a premier industrial and office property, rich in history as a U.S. Naval storage facility, and with superior modern infrastructure to any other loft building in Brooklyn,” said Bryan Lisser of Madison Capital, which will assume management and operation of the property. “We look forward to continuing to work with Meadow Partners and Salmar Properties on delivering innovative office and industrial space to this dynamic market.”

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