DH Property Holdings has secured $88 million from Athene, a subsidiary of Apollo Global Management, to refinance and improve an industrial outdoor storage site in Staten Island, New York. The property is the largest privately-owned industrial site in New York City and offers tri-modal access including a railroad track connection, waterfront steel bulkhead dock and direct interstate access. DH Property Holdings acquired the property in December 2020 with City Asphalt and Insurance Auto Auctions leasing over 80% of it.
“The property provides enormous flexibility and future opportunity which enabled us to secure competitive financing at a time when capital is harder to come by,” said Dov Hertz, founder & president of DH Property Holdings. “We have seen continued momentum for Industrial Outdoor Storage in the market.” Walker & Dunlop’s Aaron Appel Jonathan Schwartz Keith Kurland Adam Schwartz Michael Ianno arranged the transaction.
