Cushman & Wakefield Arranges, Greystone Provides $223,869,000 Refinancing for The Harbor Point Portfolio in Stamford
Cushman & Wakefield, a leading global real estate services firm, has successfully facilitated the refinancing of the prestigious Harbor Point portfolio in Stamford, Connecticut. The four-building, 989-unit multifamily portfolio, located in the highly sought-after South End, secured a combined $223,869,000 in financing through Freddie Mac, provided by Greystone.
Cushman & Wakefield’s Equity, Debt & Structured Finance team, led by John Alascio, Alex Hernandez, Alex Lapidus, and Chris Meloni, along with assistance from the firm’s Capital Markets team, represented the borrower in this significant transaction. Greystone’s Judah Rosenberg originated the four loans, all of which are seven-year fixed-rate Freddie Mac mortgages with 35-year amortization periods.
“We are thrilled to have successfully arranged the financing for the Harbor Point Portfolio, featuring four prestigious Class A multifamily properties situated in Stamford’s coveted South End,” expressed John Alascio. The portfolio offers luxury living with a range of top-tier amenities and a strategic location within a ten-minute walk from the Stamford Transportation Station.
One of the key advantages of this refinancing is the ability to secure a lower interest rate through an early index lock, particularly beneficial in today’s rising rate environment, as highlighted by Judah Rosenberg.
The Harbor Point portfolio comprises a mix of studio, one-bedroom, two-bedroom, and three-bedroom units, ranging from 544 to 1,429 square feet. Each building offers tenant parking, resort-style pools, a clubroom with a kitchen and multiple lounges, a fitness center, controlled building access, resident concierge services, gaming tables, on-site management, and an affordability component.
The portfolio’s prime location within walking distance of the Stamford Transportation Center, servicing the Metro-North and Amtrak trains, provides convenient access to and from Manhattan. Additionally, the properties are in proximity to Interstate 95 and the Stamford Central Business District, enhancing their appeal to residents.
Cushman & Wakefield, with approximately 52,000 employees across 400 offices in 60 countries, is renowned for its expertise in commercial real estate services. The firm reported revenue of $10.1 billion in 2022, offering a comprehensive range of services including property, facilities and project management, leasing, capital markets, and valuation.
Greystone, a private national commercial real estate finance company, has established itself as a leader in multifamily and healthcare finance. The company’s expertise and reputation as a top lender in FHA, Fannie Mae, and Freddie Mac sectors make them a trusted partner in the industry.
The successful refinancing of the Harbor Point portfolio highlights the strength and expertise of both Cushman & Wakefield and Greystone in navigating complex real estate transactions. This achievement further solidifies their positions as leaders in the industry, with a commitment to delivering exceptional results for their clients.
For more information about Cushman & Wakefield, please visit their website at www.cushmanwakefield.com. To learn more about Greystone and their services, please visit www.greystone.com.