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Equicap Closes $16M Loan for Two Retail Properties in Brooklyn

Santander-Brooklyn-NYC

Santander Bank occupies the two retail properties located in the Bay Ridge section of Brooklyn.

NEW YORK CITY — Equicap has closed a $16 million bridge loan for two retail properties located in the Bay Ridge section of Brooklyn for an undisclosed borrower. The loan was used to acquire two Santander locations that were owned by Santander Bank. Both locations included accompanying retail space, some of which was occupied and vacant. Daniel Hilpert of Equicap arranged the financing for the borrower.

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