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R.D. Scinto Refinances Multifamily Asset At The Renaissance In Shelton, CT For $6.6M

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FINANCED
$6,600,000
Steven Sperandio
Jake Weiss
Michael Fasano
+ 1

Connecticut

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MultiFamily
Financed 11/02/2023
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FINANCED

R.D. Scinto Refinances Multifamily Asset At The Renaissance In Shelton, CT For $6.6M

100 Parrott Drive

See Similar Deals
MultiFamily
Financed 11/02/2023
Steven Sperandio
Jake Weiss
Michael Fasano
+ 1
the dealplayerscompscontact
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Summary

CONNECTICUT
Asset Type:MultiFamily
Transaction Type:Loan

R.D. Scinto, Inc. has secured a <30% LTV permanent loan to refinance The Renaissance, a 10-story, 126-unit multifamily and residential condominium in Fairfield County. The property is located at 100 Parrott Drive in Shelton, CT and is owned by R.D. Scinto, Inc. The loan, provided by Liberty Bank, amounts to $6,600,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6,600,000
  • Market: Shelton, CT
  • Lender: Liberty Bank
  • Landlord: R.D. Scinto, Inc.

RIPCO's Debt & Structured Finance Group, represented by brokers Steven Sperandio, Michael Fasano, Jake Weiss, and Brice Shafer, facilitated the loan. The loan provides a refinancing option for R.D. Scinto, Inc., allowing them to leverage their condo inventory that functions as a multifamily asset at The Renaissance.

Players

Steven Sperandio
Cushman & Wakefield
Steven Sperandio
21 deals$773.9M volume(305) 215-8157
BROKER
Michael Fasano
Avison Young
Michael Fasano
12 deals$180.6M volume(203) 339-5421
BROKER
Jake Weiss
Ripco
Jake Weiss
12 deals$180.6M volume(404) 861-3939
BROKER
Brice Shafer
Ripco
Brice Shafer
8 deals$106.9M volume(404) 790-2662
BROKER
Liberty Bank
Liberty Bank
LENDER

Details

FINANCED
IMAGE: Steven Sperandio, Michael Fasano, Jake Weiss & Brice Shafer DATE: 11/02/2023 ADDRESS: 100 Parrott Drive MARKET: Shelton, CT ASSET TYPE: Multifamily LENDER: Liberty Bank LANDLORD: R.D. Scinto, Inc. BROKERS: Steven Sperandio (@StevenSperandio) (@RipcoCapitalAdvisory), Michael Fasano (@MAFasano87), Jake Weiss (@JakeWeiss6) & Brice Shafer - Ripco (@RipcoRealEstate) LOAN AMOUNT: $6,600,000 LOAN TYPE: Refinance NOTE FROM BROKER: RIPCO’s Debt & Structured Finance Group, led by Steven Sperandio, sourced a < 30% LTV permanent loan secured by R.D. Scinto’s condo inventory that functions as a multifamily asset at The Renaissance, a 10-story, 126-unit multifamily & residential condominium in Fairfield County.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$6,600,000.00

Monthly NOI$44,000.00
Monthly Debt Service$41,716.49
Change in Cash Flow$0.00
Refinance Proceeds$0.00