The owners of Dumbo’s Empire Stores have recapitalized the office-and-shopping complex in a deal that values the property at nearly $420 million. Midtown Equities and the HK Organization bought out the majority stake previously owned by partner Rockwood Capital, and then refinanced the centuries-old former warehouse with a $280 million loan from AIG, sources told The Real Deal. “It’s a 100-percent fully stabilized property,” said Aaron Appel of JLL, whose team secured the financing for […]
source https://therealdeal.com/2019/02/12/midtown-equities-hk-organization-recapitalize-empire-stores-in-420m-deal/
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