Gibson Dunn, Cole Schotz Steer $155M NYC Tri-Borough Loan

Law360 (November 7, 2019, 4:21 PM EST) -- Gibson Dunn represented a Pacific Investment Management Co. entity in connection with its $155 million loan to Cole Schotz-counseled Prime Group Holdings for self-storage properties in Brooklyn, Queens and the Bronx, according to records made public in New York on Thursday.

The loan from Pacific Investment Management Co. LLC unit PCRED Lending II LLC is for 1084 Rockaway Ave. in Brooklyn, 31-07 20th Ave. in Queens and 1260 Zerega Ave. in the Bronx.

Of that $155 million figure, $9.5 million is new financing for the trio of properties while the remainder is an assumption and refinance of pre-existing debt at the...

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