Brookfield signs $24.6M loan with Apollo Global for senior home purchase in Mill Basin

Brookfield Asset Management through its SJV 1 Mill Basin LLC as borrower signed an acquisition loan with lender Apollo Global through its Athene Annuity And Life Company valued at $24.6 million for the 98-unit senior housing facility (CR) at 5905 Strickland Avenue in Mill Basin, Brooklyn.
The deal closed on June 18, 2021 and was recorded on July 14, 2021.
The property has 107,569 square feet of built space and 0 square feet of additional air rights for a total buildable of 71,106 square feet according to PincusCo analysis of city data. The loan price per built square foot is $228 per the PincusCo analysis.
Brookfield bought the property on July 8, 2021, for $31.1 million, as PincusCo was the first to report.
David Cohen is a managing director in Brookfield’s Real Estate Group, currently leading the alternative asset sector, according to the company website.

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