Gindi makes DoBro moves with 2-property reacquisition

A Downtown Brooklyn commercial complex is changing hands, taking a series of complicated maneuvers to return the portfolio of properties to its previous owner. Gindi Capital acquired two properties at 25 Elm Place and 486-496 Fulton Street from PIMCO Prime Real Estate (formerly Allianz Real Estate) for a combined $70 million, the Commercial Observer reported. The two properties are part of the same complex, one Gindi previously owned. The full transaction was first reported by PincusCo. Gindi sold the deed and leasehold of 25 Elm Place to Allianz in 2013 for $18.8 million, the same year Allianz took a majority […] This article originally appeared on The Real Deal. Click here to read the full story.