Carlyle Group, Greenbrook Partners sign $19.6M initial loan with Invesco for 10 properties in Brooklyn

The Carlyle Group and Greenbrook Partners through the entity Greenbrook THR Owner, L.L.C. as borrower signed an initial loan with lender Invesco Real Estate through the entity Invesco Cmi Investments CB Seller, LLC valued at $19.6 million for 10 properties including the seven-unit rental (C1) at 18 Starr Street in Bushwick, Brooklyn, eight-unit rental (C1) at 24 Starr Street in Bushwick, Brooklyn, and eight-unit rental (C1) at 26 Starr Street in Bushwick, Brooklyn.
The deal closed on September 15, 2021 and was recorded on September 23, 2021.
The 10 properties have 50,866 square feet of built space and 6,244 square feet of additional air rights for a total buildable of 57,134 square feet according to PincusCo analysis of city data. The loan price per built square foot is $385 and the price per buildable square foot is $343 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Carlyle Group and Greenbrook Partners was Jason Hart.

Carlyle and Greenbrook previously borrowed $65.6 million from Invesco.

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