Mack Real Estate provided the debt
Meadow Partners and Slate Property Group have secured $125 million from Mack Real Estate Credit Strategies to refinance 1 Flatbush Avenue.
Property Details: The Downtown Brooklyn building is nearly complete, and will span 170,000 SF. It will include 183 multifamily rental units (37 affordable), and 25,000 SF of retail space.
Financing breakdown: The new loan replaces $110 million in prior debt, which was split between an $80 million senior loan and a $30 million mezzanine loan, according to TRD.