Main Street – Flushing

Flushing 2
INDUSTRY
Real Estate
Loan Amount
$20.0 Million
Asset Type
Retail and Mixed-Use Development Site
Deal Summary

On August 14, 2025, HREC closed a $20.0 million first mortgage acquisition loan secured by a leasehold interest on 7 contiguous retail stores and the adjacent parking lot located along Main Street in Flushing, NY, a highly populated and in demand corridor of Queens in close proximity to Arthur Ashe Stadium, Citi Field, and several major current developments including a Hard Rock casino and Etihad Park soccer stadium. The collateral value is driven from substantial NOI on the retail stores as well as the ability to (i) separate the parking lot from the adjacent store upon lease term end, (ii) hold it separately as fee simple ownership upon separation and (iii) develop up to 114K SF of a mixed-use condo building on the site. The loan is expected to be repaid in 12 months via monetization of the development site.

About Hilco Real Estate Capital

Hilco Real Estate Capital (HREC) provides creative and flexible real estate financing solutions across a broad range of asset types and situations, including bridge lending, recapitalizations, note acquisitions, mezzanine debt, and complex transitional financing. Backed by the broader resources of Hilco Global and its strategic partnership with ORIX Corporation USA, HREC combines deep real estate expertise with in-house underwriting, valuation, and structuring capabilities to execute quickly and efficiently.

The team specializes in complex and time-sensitive transactions where traditional capital sources may be unable to move with the necessary speed or flexibility. HREC works closely with sponsors, owners, lenders, and advisors to assess risk, unlock value, and structure tailored capital solutions aligned with each project’s business plan and long-term objectives.

With experience spanning mixed-use, multifamily, retail, hospitality, office, industrial, and specialty real estate assets nationwide, HREC delivers strategic capital solutions designed to support acquisitions, recapitalizations, restructurings, redevelopment initiatives, and value-add execution strategies.

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