Shops at RichmondAvenue.

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NEW YORK CITY- Infinity Real Estatelanded a $20.5 million floating-rate loan for the acquisition ofthe Shops at Richmond Avenue. Bridge Investment Group provided theloan for the sale. Newmark Knight Frank arranged thetransaction.

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Located at 2505 Richmond Ave., theShops at Richmond consist of two buildings totaling more than76,000 square feet of retail space. The buildings are occupied byprominent national tenants, that include Dick's Sporting Goods,Staples, Men's Wearhouse, Vitamin Shoppe, Starbucks and Bank ofAmerica, almost all of whom have occupied the property for morethan 20 years. The shopping center is located at the retail nexusof Staten Island and is the beneficiary of traffic generated bymore than 2 million square feet of shopping within the immediatevicinity.

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 "The Shops at Richmond Avenueis positioned at one of the most trafficked locations in all ofStaten Island with proximity to major roadways connecting theentire New York Metro Area.  Due to a combination of majortransportation links, a borough population of more than 450,000residents, and the adjacent 1.25 million square foot Staten Islandmall, we expect a healthy market and continued success for thisproperty," said NKF Vice Chairman and Co-Head the New York Debt& Structured Finance group Jordan Roeschlaub in a preparedstatement.

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Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.