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H.I.G. Realty Partners Originates $240MM Loan Secured by 43-Story Downtown Brooklyn Mixed-Use Tower

February 28, 2022, 07:41 AM
Filed Under: Real Estate

H.I.G. Capital announced that its affiliate, H.I.G. Realty Partners, originated a loan to finance The Paxton, a 43-story mixed-use development located in Downtown Brooklyn, New York.

The Property is nearing completion with an anticipated opening in the fall of this year. The Paxton has 327 luxury apartment units, 109,000 SF of Class A office space, and 21,000 SF of retail space with frontage along Fulton Street. The Paxton has high-end finishes and offers excellent connectivity to the rest of New York City.

“We are excited to be a part of such a well-built, well-located property in the growing Downtown Brooklyn market,” said Michael Mestel, Managing Director at H.I.G. Realty Partners. He added, “We are looking forward to the project’s completion and the delivery of the Property’s top-of-the-line apartments and commercial spaces.”

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