NEW YORK, November 2, 2021 – JLL Capital Markets today announced that it has arranged a $ 53.566 million acquisition financing for Glenview House, a 146-unit mid-rise multi-unit community with a ground-floor Walgreen location in Stamford, Connecticut.
JLL worked on behalf of the borrower, Beachwold Residential LLC, to secure the three-year variable rate loan through MetLife Investment Management.
Glenview House consists of one, two and three bedroom units averaging 1,280 square feet that feature lofts, vaulted ceilings, walk-in closets, wood-style floors, kitchen islands, vanities doubles in master suites, GE stainless steel appliances and full size washer and dryer. The community has a courtyard with swimming pool and barbecue, a fitness center, a club room with bar, a kitchen, a billiard room and a business center. Walgreen’s on the ground floor provides tenants with convenient and priceless retail.
Located at 25 Glenbrook Rd., Glenview House is located on the edge of Stamford’s CBD and is surrounded by many major employers, retail and entertainment options within walking distance. Plus, Midtown Manhattan is just 50 minutes away via Metro North. Residents can also easily access Interstate 95 and Route 1 just minutes from their homes.
Fairfield County saw a 357% increase in address changes for people leaving New York City from March to December 2020, compared to the same period in 2019. Since 2010, Stamford’s CBD has grown by 82, 6% of the global population.
The JLL Capital Markets debt advisory team that represented the borrower was led by Senior Managing Directors Elliott Throne and Mona Carlton, Directors Alex Staikos and Amit Kakar, and Partner Kenny Cutler.
“MetLife Investment Management provided a comprehensive financing solution that allows Beachwold to execute its business plan with exceptional flexibility,” said Kakar.
“Beachwold adds another well-located Class A asset in Stamford to its portfolio with this acquisition, as they double the growth of Connecticut cities,” Staikos added.
JLL Capital Markets is a global full service provider of capital solutions for real estate investors and occupiers. The company’s in-depth knowledge of the local market and global investors provides the best solutions for clients – whether it is investment sales and advice, debt advice, equity advice or recapitalization. The company has more than 3,000 capital markets specialists around the world with offices in nearly 50 countries.
For more information, videos and research resources on JLL, please visit our newsroom.