American International Group (AIG), a U.S. multinational finance and insurance corporation, has provided a $280 million loan to refinance a newly redeveloped retail and office building in Brooklyn, N.Y. The building is called Empire Stores.
The six-story property is comprised of 377,929 square feet of office space and 65,082 square feet of ground-floor retail.
A JLL Capital Markets team secured the 15-year loan on behalf of the borrowers, Midtown Equities and HK Organization.
Terms of the financing were undisclosed.
