Dealmaker: Walker & Dunlop Closes $149M Refinance for New York Mixed-Use Property

(Image courtesy of Walker & Dunlop)

Walker & Dunlop, Bethesda, Md., arranged $148.5 million in loan proceeds to refinance a mixed-use property developed by Steiner NYC in Brooklyn, N.Y.

The Walker & Dunlop New York Capital Markets team, led by Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Michael Diaz and William Herring, represented and acted as an exclusive adviser to Steiner.

The team identified Deutsche Bank as the bridge loan lender to refinance the existing debt.

The development–Admirals Row–is a 696,000-square-foot property in Brooklyn Navy Yard, and includes the first Wegmans supermarket in the city, light industrial and creative manufacturing space master-leased to the Brooklyn Navy Yard Development Corp., retail space and a community facility.