February 5, 2020

Blackstone Leads $300M Recap of NYC Mixed-Use Asset

Mentions News

Commercial Property Executive

An investment group led by Blackstone Mortgage Trust has provided a $300 million package to recapitalize Liberty View Industrial Plaza, a 1.3 million-square-foot industrial and mixed-use property in Brooklyn. The investment’s recipient was owner Salmar Properties.


Mixed-use assets in Brooklyn were active in 2019, with a 10 percent jump in the average price per square foot (to $475 from $433 in 2018), according to Brooklyn brokerage TerraCRG. The average transaction was about $2.6 million, but the largest in 2019 was $90 million for a building in downtown Brooklyn.

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