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Merritt 7 Office Park Receives $100 Million in Financing

An affiliate of Clarion Partners secures financing for a 1.4 million square-foot Norwalk, CT office park.

By Betsy Kim | Updated on November 20, 2017
Merritt 7 Merritt 7, Norwalk, CT corporate park

NEW YORK CITY—Merritt 7, a six-building, 1.4 million square foot, Class A office park in Norwalk, CT received $100 million in new financing. On 22 acres along the Norwalk River, Merritt 7 comprises six buildings along Route 7, less than one-half mile north of its intersection with the Merritt Parkway/Route 15, and less than three miles north of Interstate 95.

The Clarion Properties affiliate asset offers on-site amenities such as shuttle service to the Merritt 7 Metro-North Railroad Station, a fitness center, conference centers, car care, two full-service cafeterias, a Starbucks and a salon. In January of this year, Hearst Connecticut Media Group signed a long-term, 30,251 square-foot lease at Merritt 7. With 97% of the premises leased, other major tenants include General Electric, FactSet Research Systems, Datto, Frontier Communications and Xerox.

Holliday Fenoglio Fowler worked with a separate account managed by Clarion Partners to secure the five-year, fixed-rate loan through a correspondent life company. The HFF debt placement team included senior managing director, Riaz Cassum, and senior director, Lauren O’Neil.

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