WWE has finalized the purchase of property at 88 Hamilton Ave. in Stamford from one of the debtors in the Chapter 11 bankruptcy proceedings of Newbury Common Associates LLC and its affiliate, Seaboard Realty.
As previously reported, WWE expects to use the 154,533-square-foot office/flex warehouse building to expand its TV production facilities already in place there. Its corporate headquarters will remain at 1241 East Main St. The 88 Hamilton Ave. property also serves as world headquarters for nonprofit disaster relief organization Americares.
Under terms of the agreement, WWE Real Estate paid approximately $1.9 million as a “bring current” payment and assumed future obligations under a $23 million loan agreement, dated June 8, 2015, between the seller and the lender Hamilton and Wilmington Trust, National Association, which serves as trustee for the registered holders of the Wells Fargo Commercial Mortgage Trust.