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BTF Whitestone LLC secured a $75 million loan from Acadia Realty Trust, arranged by Northmarq, to acquire and redevelop Whitestone Shopping Center in Queens.
The 119,584-square-foot, Key Food-anchored center was acquired for $56 million earlier this month and includes tenants like JPMorgan Chase and Webster Bank.
The deal reflects strong lender appetite for grocery-anchored retail even as broader financing conditions tighten across other property types.
An entity called BTF Whitestone LLC has secured a $75 million loan to fund both the purchase and redevelopment of a Queens shopping center, according to GlobeSt.
#center #shopping
BTF Whitestone LLC secured a $75 million loan from Acadia Realty Trust, arranged by Northmarq, to acquire and redevelop Whitestone Shopping Center in Queens.
The 119,584-square-foot, Key Food-anchored center was acquired for $56 million earlier this month and includes tenants like JPMorgan Chase and Webster Bank.
The deal reflects strong lender appetite for grocery-anchored retail even as broader financing conditions tighten across other property types.
An entity called BTF Whitestone LLC has secured a $75 million loan to fund both the purchase and redevelopment of a Queens shopping center, according to GlobeSt.
#center #shopping
2 months ago
