Blackstone lands $269M loan for acquisition of Parker Towers

Private equity firm buying housing complex for $500M

TRD New York /
Nov.November 19, 2018 06:10 PM

Blackstone Group CEO Jonathan Gray and Parker Towers at 104-20 Queens Boulevard in Queens (Credit: Getty Images and Parker Towers)

The Blackstone Group is financing its $500 million acquisition of the Parker Towers housing complex in Queens with a $269.1 million mortgage from Newmark Knight Frank, public records show.

The mortgage includes an existing loan of $165 million and new financing of $104.1 million. Berkeley Point Capital, which BCG Partners bought for $875 million in 2017 and recently folded into the Newmark brand, issued the previous loan and is also listed as the new lender. Newmark’s Jordan Roeschlaub, Dustin Stolly and Stephan Gianopolus brokered the loan. They could not be reached for comment.

Blackstone agreed to buy the from the three-building, 1,327-unit complex in Forest Hills from the Jack Parker Corporation in September. A Newmark Knight Frank team led by Jimmy Kuhn had been marketing the property, along with other buildings owned by Jack Parker, for sale.

Representatives for Blackstone and Newmark were not immediately available for comment.

Related Article


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

Larry Silverstein and the Tel Aviv Stock Exchange (Credit: Getty Images)

Institutional investors swarm Silverstein’s new TASE bonds

Real estate firms get (green) thumbs down as they jump into climate bonds

With Fed rate cut on the mind, markets enter the week riding high

(Illustration by Carl Wiens)

NYC’s foreign investment landscape in the era of trade wars and heightened nationalism

65 East 55th Street and EQ Office CEO Lisa Picard (Credit: Park Avenue Tower and VTS)

Blackstone looks to sell Park Ave Tower for more than $800M

New York Community Bank CEO and president Joseph Ficalora (Credit: Facebook, iStock)

Freed by Dodd-Frank, NYCB is on the hunt for M&A deals