Industrial Complex
CMBS Multi-tranche

Long Island City, NY

A 1,000,000 square foot industrial building in a high-growth, neighborhood. Appraised Value $121MM. Stabilized Value $170MM. Property was 84% leased at closing, to a variety of tenants including light manufacturing and warehouse users. Many tenants vacated or defaulted. Capital stack comprised of three tranches of debt, including CMBS, and equity.