$223.8M refinancing secured for Stamford multifamily portfolio
Cushman & Wakefield (NYSE:CWK) announced that it served as the exclusive advisor to the ownership group in the procurement of a combined $223.8 million for the refinancing of the Harbor Point portfolio, a four-building, 989-unit multifamily portfolio in Stamford.
The financing was provided by Greystone and consisted of seven-year fixed-rate Freddie Mac mortgages with 35-year amortization periods. The properties in the portfolio are located at 301 Commons Park South, 111 Towne St., 110 Towne St. and 120 Towne St. in Stamford, Connecticut. The Freddie Mac financing was provided by Greystone.
Cushman & Wakefield’s Equity, Debt & Structured Finance team of John Alascio, Alex Hernandez, Alex Lapidus and Chris Meloni, with assistance from the firm’s Capital Markets team of Niko Nikolaou and Ryan Dowd in coordination with Brian Whitmer, represented the borrower in the transaction. Greystone’s Judah Rosenberg originated the four loans
“We are thrilled to have successfully arranged the financing for the Harbor Point Portfolio, featuring four prestigious Class A multifamily properties situated in Stamford’s coveted South End,” said Alascio. “The portfolio redefines luxury living with a host of top-tier amenities and strategic location within a 10-minute walk from the Stamford Transportation Station.”
“We were able to take advantage of an early index lock in order to achieve a lower interest rate, a true benefit in today’s rising rate environment,” added Rosenberg.
Photo: 111 Towne St. in Stamford.