Pinnacle Group borrows $64M from Tel Aviv Stock Exchange bondholders for NYC rentals

Pinnacle Group through the entity 86-06 35 Avenue Realty Co., LLC as borrower signed a loan agreement with lender Tel Aviv Stock Exchange bondholders through the entity Mishemeret Trust Company Ltd., as trustee valued at $64 million for 4 parcels, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 306 residential units at 86-06 35th Avenue, 3643 Broadway, 3653 Broadway, 143 Linden Boulevard in New York City. The deal closed on November 12, 2020 and was recorded on December 8, 2020.
The property has 384,454 square feet of built space and available development rights.
The average loan per unit is $209,070.
Joel Wiener signed for Pinnacle Group. The debt refinances loans from New York Community Bank with bonds issued on the Tel Aviv Stock Exchange

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