Cushman & Wakefield Arranges $80M Refinancing for Industrial Asset in New York

YONKERS, N.Y.--(BUSINESS WIRE)--Cushman & Wakefield (NYSE: CWK) recently announced that the real estate services firm served as the exclusive adviser to Alfred Weissman Real Estate, LLC in the procurement of $80,000,000 for the refinancing of 555 Tuckahoe Road, a 435,000-square-foot warehouse facility fully-leased to a credit tenant in Yonkers, N.Y. The fixed-rate loan was provided by JP Morgan Asset Management on behalf of one or more investors.

A Cushman & Wakefield Equity, Debt & Structured Finance team of Gideon Gil, Zachary Kraft and Meredith Donovan represented the borrower.

“JP Morgan was able to strategize and underwrite with our client during the depths of the COVID-19 crisis to provide a customized financing solution,” said Gil. “Financing for high-quality industrial product with credit tenancy and quality sponsorship remains strong. We are thrilled to further our client’s relationship with JP Morgan.”

555 Tuckahoe Road is strategically located in Southern Westchester County, offering seamless accessibility throughout the New York Metro area. The property has direct access to numerous commercial transportation routes, including the New York State Thruway, New England Thruway, Cross Westchester Expressway, Bronx River Parkway, Saw Mill River Parkway, Sprain Brook Parkway and Hutchinson River Parkway.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.