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Stamford Loan Deal Estimated At $250 PSF

STAMFORD, CT-Investors looking at the Mack-Cali/Winthrop deal tell GlobeSt.com that the final maturity of the loan is August 2015—but covenants such as cash flow and leasing activity will determine whether they could extend the debt or not.

By Jacqueline Hlavenka | Updated on February 22, 2012

STAMFORD, CT-The $40 million senior mezzanine tranche acquired by Edison, NJ-based Mack-Cali Realty Corp. and Boston-based Winthrop Realty Trust in Connecticut’s central business district sold for approximately $250 to $275 per square foot, investors looking at the deal tell GlobeSt.com.

RFR Realty LLC, the Park Avenue landlord headed by Aby Rosen and Michael Fuchs, owns 1.67 million-square-foot, seven-building class A office portfolio, sources say. The complex—formerly owned by Equity Office Properties Trust—was sold off by the Blackstone Group after the private equity giant won a bid to take over EOP in 2007.

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