Fraioli Family Secures $25.2M Loan From Wells Fargo For Norwalk Multifamily Portfolio

The transaction involves a multifamily asset located at 101 Washington Street & 34 Oakwood Avenue in Norwalk, CT. The loan amount for the acquisition financing is $25,200,000, secured for a 10-year fixed rate loan at a 5.75% interest rate with a prepayment option structured as 3-2-1 and then open after year 3.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $25,200,000
• Lender: Wells Fargo - Balance Sheet
• Landlord: Fraioli Family
• Brokers: Judah Hammer, Jeff Feldman, Shamir Seidman & Shlomo Weissberg - CBRE
• Loan Type: Acquisition
• Loan Terms: 10-Years Fixed, 5.75%, Prepay: 3-2-1 then open

CBRE played a key role in arranging the financing for this acquisition. The brokerage team was instrumental in securing favorable loan terms through a competitive marketing process, ensuring a beneficial outcome for the parties involved in the transaction.