Cushman & Wakefield served as the exclusive adviser in the procurement of $11.5 million acquisition financing for National Hall, a 41,957-square-foot office and retail complex in Westport. The financing was provided by Securian Asset Management.
A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Sridhar Vankayala and Zachary Kraft represented the buyer.
“National Hall represented a compelling opportunity for lenders,” Alascio said. “Our team was able to secure multiple offers from different capital sources for this transaction.”
“While straightforward on the surface, the transaction involved condo, easement and ground lease aspects that made the eventual execution challenging,” Vankayala said. “The EDSF team was able to navigate these with lenders and our client eventually picked Securian given their local understanding of the asset and terms that fit his long-term business plan.”
National Hall is a mixed-use property on the Saugatuck River. Tenants include Bartaco Westport, Berkshire Hathaway HomeServices, The Meatball Shop and Greenfield Partners.
Cushman & Wakefield also served as the exclusive sales agent on the transaction.