MBG Completes Financing of Downtown Brooklyn Retail Property for Agus Holdings

Modern Banking Group (MBG) is pleased to announce the successful closing of a $1,775,000 refinance loan for Agus Holdings, secured by a single-tenant retail property leased to Lids and located at 517 Fulton Street in the heart of Downtown Brooklyn, NY.

Strategically positioned along Fulton Street in Downtown Brooklyn, the property benefits from exceptional visibility within a well-established and active retail corridor. The financing supports the borrower's continued value-add investment strategy focused on the acquisition, repositioning, and maximizing value across retail assets.

The transaction further demonstrates MBG's ability to structure customized financing solutions across a diverse range of commercial real estate asset classes, while leveraging the flexibility of its permanent and bridge lending platforms to effectively address each client's unique financing objectives.

"Our priority is to understand each client's long-term goals and delivering financing solutions that support their broader investment strategy," said Steven Caligor, Executive Vice President and Chief Lending Officer. "We're grateful for the opportunity to establish a relationship with Josh and are pleased to provide a refinancing solution that positions them for continued success as they grow their retail portfolio."

The financing was originated by Steven Caligor, Executive Vice President and Chief Lending Officer, in collaboration with MBG's Commercial Real Estate Lending Team, including Joe Petrelli, Adam Reiss, and Alex Jeffrey.