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.
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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