Gateway was an ideal investment due to the attractive yield on investment and the underlying fundamentals of the property. The credibility of the owner/operator, high occupancy of credit tenants, and below-market valuation supported the thesis to purchase the preferred note.

Brickman purchased a mezzanine loan on two office buildings with a total of 670,000±SF. The buildings are located on Marcus Avenue, Lake Success, NY. The facility was built in 1984 and is undergoing a renovation to upgrade the parking garage and common areas.

Gateway was recently sold to a new, similarly qualified owner at a significant premium relative to the original valuation at the time of Brickman's financing, which proved the firm's original thesis.