Global Holdings invests $100M in 25 Kent

Williamsburg office-and-retail will span 500K sf 

TRD New York /
May.May 31, 2018 12:30 PM

25 Kent Avenue and Eyal Ofer (Credit: Twenty Five Kent)

Global Holdings Group is making a preferred-equity investment of $100 million in the office-and-retail Williamsburg project at 25 Kent Avenue.

Rubenstein Partners, which is co-developing the project with Toby Moskovits’ Heritage Equity Partners,  secured the funding, according to the Commercial Observer. The eight-story, 500,000-square-foot project spans one full block by the East River waterfront, and it should come online by the end of the year.

Monaco-based billionaire Eyal Ofer owns Global Holdings, and the company has a portfolio of more than 100 properties including 120 Park Avenue and 15 Central Park West.

Rubenstein bought a majority stake in Moskovits’ project in 2015, and Natixis and Wells Fargo provided the project with a $197 million construction loan in 2016.  [CO] – Eddie Small


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
A rendering of 1998 Second Avenue in Harlem and Peter Fine (Credit: GF55 Architects)

Peter Fine inks $70M construction loan for Harlem resi project

Peter Fine inks $70M construction loan for Harlem resi project
Andrew Florance, CEO of CoStar (Photo by Jeffrey MacMillan for the Washington Post)

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts
An institutional investor’s sale of a 7 percent stake in an exchange-traded real estate fund reveals deep concerns about the sector. (Credit: iStock)

Mystery investor dumps big stake in real estate fund

Mystery investor dumps big stake in real estate fund
Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off
JPMorgan Chase's Jamie Dimon and Fortress Investment Group's Wes Edens (Dimon via Mark Wilson/Getty Images; Edens via Scott Olson/Getty Images)

JPMorgan, Fortress are the latest firms to build up war chests

JPMorgan, Fortress are the latest firms to build up war chests
CEO Andrew Florance (Credit: CoStar via YouTube)

CoStar buying Ten-X for $190M

CoStar buying Ten-X for $190M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...