Sustainable Credit Partners, in partnership with Climate First Bank, has closed a $9,400,000 construction loan for JFK Park EV, a ground-up commercial electric vehicle charging facility in Queens, New York. The Washington, D.C. office of Avison Young arranged the financing on behalf of Wildflower, a New York City-based developer specializing in sustainable urban infrastructure.
The loan funds site development on roughly 2.5 acres of pre-leased powered land, building a facility with a minimum of 38 charging ports serving both public and fleet users in the JFK airport sub-market.
Commercial charging sits where real estate underwriting meets power infrastructure. The value of the site is driven by interconnection and capacity as much as by location, and the sponsor needs a lender who will underwrite both.
SCP provides floating-rate bridge loans from $10 million to $100 million for mid-market commercial real estate nationwide.
"This is a real estate deal with a power story attached," said Robert Zulkoski, Founding Partner of Sustainable Credit Partners. "Those are the deals conventional lenders are still deciding how to price. We are already lending on them."
