JLL Arranges $97.5M Construction Loan for Mixed-Use Project in Stamford, Connecticut
STAMFORD, CONN. — JLL has arranged a $97.5 million construction loan for the development of the second phase of Atlantic Station, a mixed-use project in Stamford, located approximately 35 miles northeast of New York City. Bank OZK provided the floating-rate loan. The first phase of Atlantic Station was completed in 2018 and comprised 325 rental units, 321 parking spaces and 16,000 square feet of retail space. The second phase will include 325 condominium units, approximately 48,000 square feet of retail space and a 534-space parking garage. Mike Tepedino, Michael Gigliotti and Scott Findlay of JLL arranged the loan on behalf of the developer and borrower, RXR Realty. Construction of Phase II is slated for completion by 2021.