Värde Partners Provides $125 Million Loan for Brooklyn Industrial Property Refinancing

NEW YORK — Värde Partners announced it has provided a $125 million loan to refinance 630 Flushing Avenue, a flex industrial and manufacturing property in Brooklyn, New York. The three-year, floating-rate loan was extended to an affiliate of Acumen Capital Partners, according to the firm’s Oct. 14 announcement.

Refinancing of Historic Brooklyn Property

The property, originally developed in 1849 as the headquarters of Pfizer Inc., spans three contiguous parcels totaling 7.8 acres. Since its acquisition by the current owners in 2011, the site has undergone extensive capital improvements, transforming it into a modern, multi-tenant industrial space. The property is currently 88% leased by tenants across industries including food manufacturing, distribution, technology, education, media, fashion, and nonprofit services.

Värde Partners’ Commercial Real Estate Lending Activity

“It is an honor to work alongside Acumen Capital Partners in support of this historic property that has been skillfully repositioned to meet the needs of a diverse tenant base,” said Alek Roomet, Managing Director at Värde Partners. “At Värde, we strive to be a true partner in our lending relationships, providing flexible capital solutions that help drive successful long-term business objectives.”

Värde Partners has originated $1 billion in U.S. commercial real estate loans this year and more than $8 billion since 2017. The firm’s commercial real estate lending program provides non-recourse, balance sheet financing across major asset classes, focusing on flexible capital for experienced real estate investors.

Acumen Capital Partners’ Role

“630 Flushing stands as a premier industrial and manufacturing facility in NYC’s outer boroughs and a strong example of how historic properties can be revitalized into thriving, modern industrial spaces,” said Ashish Dua of Acumen Capital Partners. “With Värde’s support, we are well-positioned to continue delivering the flexibility our valued tenants need to support their growth, while also adding to our tenant community.”

Acumen Capital Partners LLC is a private real estate investment company focused on repurposing large-scale commercial buildings in New York City’s outer boroughs. Founded in 2007 by Jeffrey Rosenblum and Ashish Dua, the company maintains a portfolio of over 1 million square feet and 1 million square feet of development rights.

CBRE.

Source

Värde Partners announcement