Updated Sep 19, 2025
Thomas L. Rich Of F.D. Rich Company Secures $91M Loan For Multifamily Project In Stamford
130 West Broad Street
$91,000,000
Units
198
Asset Type
MultiFamily
Closing
Sep 3, 2025
About this deal
AI
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.
Players
Stamford MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93