Blackstone Mortgage trust has granted a $160 million loan package to Atlas Capital Group to refinance its Long Island City office building at 30-30 47th Avenue. The collateral, known as The Factory, is a 1 million sqf office building that has a number of fashion and retail companies as office tenants including J.Crew’s Madewell brand, Ralph Lauren and Macy’s. A part of the financing includes a $27.2 million construction loan. Blackstone Mortgage Trust has closed on or agreed to $625m in loan since the end of the first quarter.
