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Benefit Street Partners and Aker Acquire 55 Riverwalk in West New York, NJ

Dec 20, 2024•over 1 year ago

Contract Type

partnership

Financial ServicesLending And Investments

Description

Aker, in partnership with multiple vehicles managed by Benefit Street Partners L.L.C., acquired 55 Riverwalk located in West New York, New Jersey, for $158.5 million. The property offers urban convenience and suburban comforts, featuring parks, waterfront walkways, shopping, dining, and proximity to cultural and recreational activities.

Company Information

Company

Franklin BSP Capital Corporation

About

FBCC is a non-listed business development company with $600 million of investor commitments as of September 30, 2021. FBCC’s investment portfolio primarily consists of loans to middle-market companies. FBCC has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. FBCC is managed by its investment adviser, Franklin BSP Capital Adviser L.L.C., an affiliate of Benefit Street Partners L.L.C. This press release is not an offer to sell any securities issued by FBCC and is not soliciting an offer to buy such securities. About Benefit Street Partners Benefit Street Partners L.L.C. is a leading credit-focused alternative asset management firm with approximately $36 billion in assets under management as of November 30, 2021. BSP manages assets across a broad range of complementary credit strategies, including private/opportunistic debt, structured credit, high yield, special situations, long-short liquid credit and commercial real estate debt. Based in New York, the BSP platform was established in 2008. BSP is a wholly owned subsidiary of Franklin Resources, Inc. For further information, please visit www.benefitstreetpartners.com.

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Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

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