June 17, 2020
Cushman & Wakefield arranged $57 million in acquisition financing for the multifamily rental portion of 1 Flatbush Ave., a newly-built mixed-use property in downtown Brooklyn. The fixed rate loan was provided by USAA Real Estate.
A Cushman & Wakefield Equity, Debt & Structured Finance team of Gideon Gil, Alex Lapidus and Maya Steinberger represented the undisclosed borrower in the financing. Investment sales specialists Adam Spies, Adam Doneger, Dan O’Brien and Avery Silverstein advised the seller, Meadow Partners and Slate Property Group, in the sale of the project’s multifamily component.
“USAA Real Estate had conviction about the caliber of this new property and the institutional sponsorship,” said Gil. “Their unwavering commitment during a difficult period in the capital markets ensured a timely execution for our client. USAA Real Estate provided a custom debt solution that was perfect for this acquisition.”
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