**Värde Partners Provides $125M Refinancing for Brooklyn Flex Industrial Property**
Värde Partners, a global investment firm focused on credit and credit-related assets, has provided a $125 million loan to an affiliate of Acumen Capital Partners LLC to refinance 630 Flushing Avenue in Brooklyn, New York. The three-year, floating-rate financing was arranged by CBRE’s Jason Gaccione and Jake Salkovitz.
Originally developed in 1849 as the headquarters of Pfizer Inc., the historic property spans three contiguous parcels totaling 7.8 acres. Since its acquisition by the current ownership in 2011, the site has undergone significant capital improvements and is currently 88% leased to a range of tenants. The property serves as a flex industrial and manufacturing facility, meeting a variety of modern industrial demands.
“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 of 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.”
