Cushman & Wakefield Secures $54M in Acquisition Financing for 20-Acre Lot in the Bronx

NEW YORK CITY — Cushman & Wakefield has arranged $54 million in financing for Innovo Property Group and Square Mile Capital Management for the acquisition of a 20-acre lot located at 2505 Bruckner Blvd. in the Bronx. Affiliates of Pine River Capital Management provided the floating-rate financing. The lot was formerly occupied by Whitestone Cinemas. Future development plans for the property may include industrial and warehouse space. Adam Spies, Doug Harmon, Adam Doneger and Josh King of Cushman & Wakefield represented Innovo Property Group in arranging joint venture equity from an affiliate of Square Mile Capital Management. Steve Kohn, Alex Hernandez and Noble Carpenter III of Cushman & Wakefield Equity, Debt and Structured Finance arranged the financing.