GFP Real Estate, King Street Properties and Carlyle Group borrow $152M from Acore Capital for LIC biotech development

GFP Real Estate, King Street Properties and the Carlyle Group through the entity 45-18 Court Square Owner, L.L.C. as borrower signed a loan agreement with lender Acore Capital through the entity Acore Capital Mortgage, Lp valued at $152.1 million for 2 parcels, including 45-18 Court Square in Long Island City. The deal closed on December 19, 2019 and was recorded on December 30, 2019.

The partnership plans to build a biotech center. The last time the property sold was July 25, 2007, for $33,000,000.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link