Surrey Equities and Gazit Horizons borrow $88M from Barclays Capital Real Estate for property in Gravesend

Surrey Equities and Gazit Horizons through the entity CBB Venture LLC as borrower signed a loan agreement with lender Barclays Capital Real Estate Inc. valued at $87.5 million for 1 parcel, including the tax class shopping center with parking facilities (K6) at the Caesar’s Bay Shopping Center at 1608 Shore Parkway in Gravesend. The deal closed on October 4, 2019 and was recorded on October 15, 2019.

The borrowers upped their debt by adding $65.25 million to the loan previously held by TD Bank, which was assigned to Barclays. Tenants in the complex include Target, Kohl’s and Best Buy.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on July 23, 2012.
Over the past five years, there have been 24 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $1,122,324. There were 22 renovation/alteration projects (A2) applied for with a total estimated value of $12,708,317.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
A recent story on the property. link.