Financing
Related lands Refi for 21-09 Borden Avenue
Colony Credit Real Estate provided a $75 million loan
Published on
Related Companies and GreenOak Real Estate have secured a $75 million loan from Colony Credit Real Estate to refinance 21-09 Borden Avenue in Hunters Point, TRD reported. The duo recently completed $15 million worth of capital improvements to the 220,000-square-foot property, including a new lobby and landscaped courtyard.
Financing details: The new floating-rate loan replaces more than $64 million in acquisition financing provided by TPG Real Estate Finance Trust.
Flashback: The partnership paid $62.5 million for the LIC property in 2016.
