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A combination of edgy retailers and more established purveyors defines Brooklyn today, as Jaime Schultz of Lee & Associates states in this exclusive video interview from the ICSC New York Dealmaking Conference.
The winning bid also calls for a new 435,000-square-foot retail and entertainment complex, a new 200-250 key, full-service hotel, nearly six acres of outdoor recreation space, up to 10,000 square feet of community space, as well as upgrades to the storied Belmont Park property.
The financing needs to be structured in a manner that gives the lender all of its normal underwriting sizing guidelines, while also providing the operator the flexibility to execute its business plan, MetroGroup's Scott Botsford tells GlobeSt.com.
Commercial owners usually have to complete repairs as quickly as possible, before the insurance claim is sorted out, but once the damage has been fixed, it becomes harder to prove the extent of the damage.