STAMFORD, CT-Officials with Holliday Fenoglio Fowler's Westport, CT office arranged new permanent mortgage financing for the Stamford Landing office park here.
The financing for Seaboard Properties, the owner of the four-building office park, was arranged by Holliday Fenoglio Fowler managing director Al Epstein. The financing was arranged through Morgan Stanley Mortgage Capital and included One, Two, Three and Five Stamford Landing and were securitized at low interest rates, Epstein says. HFF's Christine Riniti was the senior real estate analyst on the transaction.
Seaboard Properties owns a number of properties in the Stamford area, including the Biltmore Apartments, One Dock St., 316 Courtland Ave. and 470 West Ave.
“Morgan Stanley was attracted to investing in Stamford Landing because of its appealing waterfront ambiance and its success as an office working environment for over 50 different companies. Even though the recession had a marked impact on the regional office market, this complex remains over 95% leased,” Epstein says.
The Stamford Landing property, which sits on eight acres along the harbor, includes a marina and two well-known boardwalk restaurants, Paradise Grill and the Crabshell. Adjoining the Stamford Landing complex are 88 luxury residential condominiums. Just south of the complex is a 480-unit multi-family complex completed by Avalon Bay Communities in 2002.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
