LoanCore Capital provided the debt
Robert Wolf’s Read Property Group and Joseph Tabak’s Princeton Holdings have secured $100 million from LoanCore Capital to refinance 930 Flushing Avenue, according to CO. The Bushwick warehouse is entirely leased to the New York City Office of Emergency Management until 2036.
Financing Details: The interest-only loan was underwritten with an LTV ratio of 51.3 percent. It carries a fixed rate of 4.17 percent.
Worth Noting: The warehouse spans 315,600 square feet and generates approximately $1.1 million in rent per month.