New York – Värde Partners, a leading global investment firm specializing in credit and credit-related assets, today announced that it has provided an affiliate of Acumen Capital Partners LLC with a $125 million loan to refinance 630 Flushing Avenue, a premier flex industrial and manufacturing property in Brooklyn, New York.

Originally developed in 1849 as the headquarters of Pfizer Inc., the property spans three contiguous parcels totaling 7.8 acres. Since its acquisition by the current owners in 2011, the site has undergone extensive capital improvements, transforming it into a modern multi-tenant flex industrial space. The property is currently 88% leased by tenants operating in a diverse range of industries, including food manufacturing and distribution, technology, education, media, fashion and nonprofit services.

“It is an honor to work alongside Acumen Capital Partners in support of this historic property that has been skillfully repositioned to meet the needs of a diverse tenant base,” said Alek Roomet, Managing Director at Värde Partners. “At Värde, we strive to be a true partner in our lending relationships, providing flexible capital solutions that help drive successful long-term business objectives.”

“630 Flushing stands as a premier industrial and manufacturing facility in NYC’s outer boroughs and a strong example of how historic properties can be revitalized into thriving, modern industrial spaces,” said Ashish Dua of Acumen Capital Partners LLC. “With Värde’s support, we are well-positioned to continue delivering the flexibility our valued tenants need to support their growth, while also adding to our tenant community.”

The three-year, floating-rate loan was arranged by Jason Gaccione and Jake Salkovitz of CBRE.

Värde has originated $1 billion in U.S. commercial real estate loans this year and has originated more than $8 billion in commercial real estate loans since 2017. Through its CRE lending program, Värde is a non-recourse, balance sheet lender financing all major asset classes. Värde focuses on providing flexible capital and certainty of execution to meet the needs of experienced real estate investors.

About Acumen Capital Partners LLC

Acumen Capital Partners LLC is a private real estate investment company focused on repurposing large scale commercial buildings in NYC’s outer boroughs. Founded in 2007 by Jeffrey Rosenblum and Ashish Dua, the company maintains a portfolio of over 1 million square feet and 1 million square feet of development rights.

About Värde Partners

Värde Partners is a leading global investment firm specializing in credit and credit-related assets. Founded in 1993, the firm has invested more than $110 billion across the credit quality and liquidity spectrum and currently manages $16 billion in assets. With local investment teams and partnerships in North America, Europe and Asia Pacific, Värde invests across private and public markets with a focus on real estate, asset-based finance and corporate credit.