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411 West Putnam Avenue, Gre...

Sound Point Capital Management Provides $41.5M Refinance Loan For Office Building In Greenwich, CT
FINANCEDOffice

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:

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

Lauren Kaufman

JLL

Broker

$5.4B

vol

35 deals

Broker
Sound Point Capital Management
Sound Point Capital ManagementLender

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