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January 31, 2012

Ratner’s parent company unveils $300M in NYC property financings

Company closes loans on Queens Place, Nine Metrotech

The Real Deal
by Katherine Clarke

And we thought lenders had learned their lessons...

Forest City Ratner’s Cleveland-based parent company Forest City Enterprises completed more than $300 million in property financings in the quarter ending Jan. 31, 2012, including two worth a combined $163 million in New York City, it announced today.

The company closed a 10-year, $87 million loan for Queens Place, a 455,000-square-foot, five-level retail center on Queens Boulevard. It also purchased the existing $75 million loan at Nine Metrotech, a 317,000-square-foot office building in the MetroTech Center office campus in downtown Brooklyn, and then closed a new 10-year, $63 million loan for the same property.

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Posted by eric at January 31, 2012 10:27 AM