Cushman & Wakefield Secures $223.87M Refinance Loan For Stamford Multifamily Portfolio
301 Commons Park South, 111 Towne Street, 110 Towne Street & 120 Towne Street
$223,869,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 11, 2023
AI
The Harbor Point portfolio, a collection of four multifamily buildings comprising 989 units located in Stamford, Connecticut, has secured $223.87 million in refinancing. The loan was facilitated by Judah Rosenberg of Greystone, who served as the lender. The terms of the loan include a seven-year fixed-rate Freddie Mac mortgage with a 35-year amortization period.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $223,869,000
- Address: 301 Commons Park South, 111 Towne Street, 110 Towne Street & 120 Towne Street, Stamford, CT
- Market: Stamford, CT
- Units: 989
Alex Hernandez, Alex Lapidus, Brian Whitmer, Chris Meloni, John Alascio, Niko Nikolaou, and Ryan Dowd of Cushman & Wakefield acted as the brokers in this refinancing deal.
It is worth noting that Cushman & Wakefield served as the exclusive advisor in securing the refinancing for the Harbor Point portfolio. The loan is intended to support the ongoing operations and maintenance of the multifamily buildings.
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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93