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GreenLake Asset Management Provides $34.4M Refinance And Construction Loan For Shelton, CT Retail Center

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FINANCED
$34,400,000

Connecticut

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Development Site
Financed 06/21/2023
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Property Image
FINANCED

GreenLake Asset Management Provides $34.4M Refinance And Construction Loan For Shelton, CT Retail Center

801 Bridgeport Ave Shelton, CT 06484, USA

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Development Site
Financed 06/21/2023
the dealplayerscompscontact
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Summary

CONNECTICUT
Asset Type:Development Site
Transaction Type:Loan

In Shelton, CT, a recent closed property transaction involved a development site located at 801 Bridgeport Avenue. The property, known as the Fountain Square retail center, was the subject of a $34.4 million refinance and construction loan provided by GreenLake Asset Management LLC.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $34,400,000
  • Lender: GreenLake Asset Management LLC - Peter Chang
  • Loan Type: Refinance & Construction loan

GreenLake Asset Management LLC, known for their expertise in short-term commercial bridge loans, offered their flexible capital solutions for this real estate special situation. Led by Peter Chang, the loan was structured as a refinance and construction loan, providing the necessary funds for the development of the Fountain Square retail center.

Players

PC
Peter Chang
4 deals$67.3M volume
LENDER
GreenLake Asset Management
GreenLake Asset Management
LENDER

Details

FINANCED
IMAGE: Peter Chang DATE: 06/21/2023 ADDRESS: 801 Bridgeport Avenue MARKET: Shelton, CT ASSET TYPE: Development Site LENDER: GreenLake Asset Management LLC - Peter Chang LOAN AMOUNT: $34,400,000 LOAN TYPE: Refinance & Construction loan NOTE: GreenLake Asset Management specializes in short-term commercial bridge loans across the United States, offering flexible capital solutions for real estate special situations. In a recent deal, GreenLake provided a $34.4 million refinance and construction loan for the Fountain Square retail center in Shelton, CT.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$34,400,000.00

Monthly NOI$229,333.33
Monthly Debt Service$217,431.40
Change in Cash Flow$0.00
Refinance Proceeds$0.00