Greenwich Plaza.
NEW YORK CITY – The Ashforth Company, a real estate development firm, has landed a $150 million refinancing for its Greenwich, Connecticut office property dubbed The Greenwich Plaza, a two-building office complex located in the central business district. PGIM Real Estate Finance arranged the financing. Eastdil Secured led the loan transaction.
Ashforth will use the loan proceeds for the redevelopment of a new transportation center. The 100% occupied office property is located steps from the Greenwich Train Station that offers express access to New York City and Stamford on the New Haven Metro-North rail line.
Ashforth built the two, four-story office property in 1970, totaling 325,100 square feet, with an underground three-story parking deck. The buildings offer views of Greenwich Harbor and Long Island Sound, landscaped grounds, assisted parking service, HVAC systems and 24-hour security.
"The planned upgrades will further activate the immediate area, to the benefit of companies and employees in Greenwich Plaza and the surrounding community," said Tom Goodsite, PGIM Real Estate Finance's managing director who led the transaction, in a prepared statement.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
