PCCP provided the debt
Quinlan Development Group + Building and Land Technology have secured an $152 million senior loan from PCCP for 41 Flatbush Avenue. The financing will go towards the recapitalization and lease-up of the newly converted Downtown Brooklyn office property.
Worth Noting: The 10-story building spans 270,000 SF, and contains a ground floor retail component
Financing details: The new loan replaces $132 million in previous debt provided by KKR for the conversion in 2017, according to TRD.
Flashback: The developers paid $90 million for the former storage facility in 2015.