Midtown Equities, HK Organization recapitalize Empire Stores in $420M deal

The owners of Dumbo’s Empire Stores have recapitalized the office-and-shopping complex in a deal that values the property at nearly $420 million. Midtown Equities and the HK Organization bought out the majority stake previously owned by partner Rockwood Capital, and then refinanced the centuries-old former warehouse with a $280 million loan from AIG, sources told The Real Deal. “It’s a 100-percent fully stabilized property,” said Aaron Appel of JLL, whose team secured the financing for […]

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