Stamford, CT – August 17, 2011 – (RealEstateRama) — CBRE (NYSE:CBG) offices in Florida and Connecticut recently arranged the $20 million acquisition financing for the Stamford, Connecticut apartment community, the blvd. Financing for the 94-unit property was obtained through People’s United Bank for The Wolff Company, a Scottsdale, Arizona firm.
The loan arranged by CBRE is floating rate, 7-year term with 2 years of interest-only financing. According to CBRE vice chairman, Charles J. Foschini, the property was one of the highest quality assets in the Stamford area.
“The loft-style design and dramatic size of the units provide the resident with a true condo feel,” said Foschini.
Built in 2011, the blvd, includes upscale amenities such as a concierge, an espresso/cappuccino bar and loft, a club room with a bar, a state-of-the-art fitness center, and a 4,000-square-foot, fully-furnished, landscaped rooftop terrace with fire pits, barbecue grills and bar.
From the CBRE Miami offices, Foschini as member of CBRE’s Debt & Equity Finance and Institutional Group, was joined by team members, Christian R. Lee and Christopher Apone. From the CBRE Connecticut office, Mike Riccio and Susan Larkin with the Debt & Equity Finance group partnered with the Miami team to arrange the financing on behalf of The Wolff Company.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.