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Cushman & Wakefield Arranges $163.3M Financing for Brewster Distribution Center

12/3/2021

Brewster, NY – Cushman & Wakefield announced today that the real estate services firm served as the exclusive advisor to Lincoln Equities Group and H.I.G. Realty Partners in the procurement of $163,250,000 in acquisition and construction financing for the Brewster Distribution Center in Putnam County. The loan was provided by Heitman. 

Brewster Distribution Center NY (image)A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Chuck Kohaut, TJ Sullivan and Meredith Donovan represented the borrower. 

“The debt capital markets continue to show strong interest in infill industrial projects for top-tier sponsors. This project certainly fits that box with a best-in-class partnership of Lincoln Equities Group and H.I.G. combined with a unique location east of the Hudson River that is proximate to New York City and adjacent to multiple interstates,” said Alascio. “We are proud to have represented this dynamic partnership on what is sure to be a successful project.” 

“Brewster Distribution Center’s strategic location will offer users immediate access to each of the New York City, Westchester and Connecticut markets,” added Joel Bergstein, President of Lincoln Equities Group. 

Brewster Distribution Center is located in Brewster, less than five miles north of Westchester County and half a mile from Interstate 84 and Interstate 684. The property totals 328 acres and has a fully approved site plan to develop 921,000 square feet across two Class A industrial facilities. Construction is expected to be completed in Q2 2023. 

Ideally situated east of the Hudson River just north of New York City, Brewster Distribution Center offers expansive regional access and rare scale in a restrictive and land constrained market. This strategically located distribution center site can reach more than 22.3 million consumers within a two-hour drive, making this site one of the premier infill locations on the eastern seaboard.   

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 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.

Cushman & Wakefield Media Contact

Jayden
Jayden Lapin-Tatman

Communications Manager • New York

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