- JZ Capital Partners Limited has acquired 192 Bedford Avenue, located in the Williamsburg neighbourhood of Brooklyn, New York, alongside its long-term real estate partner, RedSky Capital.

The property features frontage of 20 ft. on Bedford Avenue and offers up to 6,000 sq. ft. of build-to-suit multi-level retail space with only one short term lease encumbering the property.

The property represents an excellent opportunity for any retailer looking to enter the popular and vibrant neighbourhood.

The purchase price for the property was US$12.3 million, funded with US$9.3 million in equity, of which JZCP provided US$7.0 million.

JZCP's founder and investment adviser David Zalaznick said: "We continue to see compelling value-add opportunities in the Brooklyn property market. This announcement marks our third acquisition in Brooklyn and our seventh overall since the beginning of the year-demonstrating the growth of our US real estate business and our commitment to build a balanced portfolio of assets that provide our shareholders with superior, long-term returns."

Story provided by