Waterton Nabs $82M Capital One Refi for Connecticut Multifamily Property
By Cathy Cunningham September 14, 2017 10:57 am
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Meridian Capital Group has negotiated $81.9 million in agency financing to refinance Waterton’s 75 Tresser multifamily property in Stamford, Conn., Commercial Observer can first report.
Capital One Multifamily Finance provided the seven-year Freddie Mac loan, which has a floating rate of 1.91 percent over 30-day LIBOR and three years of interest-only payments.
Michael Maidhof, a senior vice president at Capital One Multifamily Finance, originated the loan.
The property, located at 75 Tresser Boulevard in Stamford, is a five-story, 344-unit apartment building with ground-floor retail spaces. Building amenities include a lounge area, a conference room, a surround sound theater, a fitness center, a swimming pool and a yoga studio. The property also includes a 448-space parking garage.
Meridian’s Abe Hirsch and Jacob Schmuckler secured the financing on behalf of the borrower.
“Waterton purchased 75 Tresser in August of 2014 from developers, Greenfield Partners and Post Road Residential while the property was still in lease-up,” Hirsch said, in prepared remarks. “Because of the client’s successful track record and Meridian’s long-term relationship with the lender, we were able to negotiate favorable terms.”
An active agency lender, last month Capital One Multifamily Finance provided $29 million in agency financing to refinance the Creekstone Apartments multifamily property in Nashville, Tenn., also arranged by Meridian.
