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301 Commons Park South

Cushman & Wakefield Secures $223.87M Refinance Loan For Stamford Multifamily Portfolio
FINANCEDMultiFamily

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.

Players

Alexander Hernandez

Cushman & Wakefield

Broker

$7.7B

vol

27 deals

Broker
Greystone
GreystoneLender
Greystone
GreystoneLender

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