Thomas L. Rich Of F.D. Rich Company Secures $91M Loan For Multifamily Project In Stamford

The asset involved in this transaction is a multifamily property located at 130 Broad Street in Stamford, CT. The project consists of 198 units and is intended for construction, with a total loan amount of $91,000,000 secured to facilitate its development. The property, named Coastline, is situated in Downtown Stamford and is projected for completion in 2027.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $91,000,000
• Lender: Bank OZK & 3650 Capital
• Landlord: Thomas L. Rich - F.D. Rich Company
• Market: Stamford, CT
• Units: 198
• Loan Type: Construction

Key individuals in this transaction include Thomas L. Rich, representing F.D. Rich Company, which is the landlord for the multifamily project. The financing was secured specifically for the construction of the Coastline project, highlighting the ongoing development initiatives in the Stamford area.