**Värde Partners Provides $125M Refinance for Brooklyn Industrial Property**
Värde Partners, a global investment firm specializing in credit and credit-related assets, has provided a $125 million loan to an affiliate of Acumen Capital Partners LLC for the refinancing of 630 Flushing Avenue, a flex industrial and manufacturing property located in Brooklyn. The three-year, floating-rate loan was arranged by Jason Gaccione and Jake Salkovitz of CBRE.
Originally developed in 1849 as the headquarters of Pfizer Inc., the property consists of three contiguous parcels totaling 7.8 acres. Since being acquired by Acumen Capital Partners in 2011, the site has undergone substantial capital improvements and is currently 88% leased.
“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 a 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.”
