A joint venture between Fields Grade Development and Alpine Residential has received $35.9 million from CIT Bank to finance the construction of a 183-unit apartment building in Stamford.
The financing for the project on Canal Street in the city”™s Harbor Point area south of downtown Stamford, will help “advance our plan to construct an attractive multifamily residential building with ground-floor retail space and other associated amenities in a premier Stamford location,” said Rob Caulfield of Fields Grade Development.
Added Chris Niederpruem, managing director and group head for CIT”™s real estate finance business: “This project is a great fit for our portfolio of projects in major metropolitan areas. We are pleased to open a relationship with Fields Development and Alpine Residential in supporting this project, which we are confident will be an attractive residential property for the long term.”
