Sound Point Capital Management Provides $41.5M Refinance Loan For Office Building In Greenwich, CT
411 West Putnam Avenue, Greenwich, CT, USA
$41,470,000
$402/SF
Building Size
103,060 SF
Asset Type
Office
Closing
Nov 4, 2021
AI
The office building located at 411 West Putnam Avenue in Greenwich, CT has recently undergone a refinancing transaction. The property spans a total of 103,060 square feet and is classified as an office space. The transaction involved Sound Point Capital Management, who provided a loan amount of $41,470,000 as part of the refinancing deal. The loan is a five-year, floating-rate loan.
Summary of Transaction Details:
- Property Type: Office
- Transaction Amount: $41,470,000
- Address: 411 West Putnam Avenue, Greenwich, CT
- Market: Greenwich, CT
- Lender: Sound Point Capital Management
- Landlord: Acram Group
- Brokers: Gideon Gil, Lauren Kaufman, & Sebastian Sanchez - Cushman & Wakefield, & Mission Capital Advisors
In addition to the loan provider and property owner, the refinancing transaction was facilitated by Gideon Gil, Lauren Kaufman, and Sebastian Sanchez from Cushman & Wakefield and Mission Capital Advisors. These brokers played a crucial role in representing the parties involved in the deal, ensuring its successful completion.
Players
Greenwich Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93