Greystone Refis Stamford Apartment Properties With $224M Loan
By Andrew Coen October 10, 2023 11:18 am
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GAIA Real Estate has secured a $223.9 million debt package to refinance a multifamily portfolio in Stamford, Conn., Commercial Observer has learned.
Greystone provided the Freddie Mac (FMCC)-backed financing on the sponsor’s Harbor Point portfolio, made up of four apartment complexes comprising a total of 989 units. The financing comprised four seven-year loans with 35-year amortization periods.
Judah Rosenberg, vice president at Greystone, originated the loans.
“We were able to take advantage of an early index lock in order to achieve a lower interest rate, a true benefit in today’s rising rate environment,” Rosenberg said in a statement.
Officials at Greystone and C&W declined to confirm the sponsor’s identity Tuesday, but previous reporting shows that the portfolio is owned by Gaia.
The firm was in the market for the refi early this year when it retained Cushman & Wakefield (CWK) to procure the financing, CO reported at the time.
C&W’s John Alascio, Alex Hernandez, Alex Lapidus, Chris Meloni, Niko Nikolaou, Ryan Dowd and Brian Whitmer represented the borrower in the transaction.
The portfolio features properties at 301 Commons Park South, 111 Towne Street, 110 Towne Street and 120 Towne Street. Community amenities in the properties include tenant parking, swimming pools, a clubroom with a kitchen, multiple lounges, a fitness center and gaming tables.
Officials at Gaia Real Estate did not immediately return a request for comment.
Andrew Coen can be reached at acoen@commercialobserver.com
