Home Banking & Finance $45M in financing secured for Danbury complex

$45M in financing secured for Danbury complex

Berkadia, a Berkshire Hathaway and Leucadia National company, has secured $45 million in financing for the Powers Industrial Portfolio, a 17-building mix of industrial and warehouse buildings in Danbury. Berkadia secured the permanent refinancing through Citigroup on behalf of Delaware Commerce Park LLC.

Yuri Kletsman, managing director of Berkadia’s New York office, led the financing, which consisted of a 10-year loan featuring a 6.4 percent fixed interest rate blended between a senior and mezzanine loan structure. The loan also featured an 80 percent loan-to-value ratio.

Earlier this year, Berkadia handled the acquisition financing for the 374-unit luxury apartment complex at 1 Kennedy Flats in Danbury.

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