CBRE Arranges $53.5M Loan for Refinancing of Multifamily Assets in Norwalk, Connecticut

NORWALK, CONN. — CBRE has arranged a $53.5 million loan for the refinancing of The Berkeley at Waypoint and Quincy Lofts, two multifamily properties in Norwalk, located north of Stamford along the Connecticut coast. The Berkeley at Waypoint was built in 2017 and features 129 units in one- and two-bedroom formats. Quincy Lofts was constructed in 2016 and offers 69 loft-style units in one- and two-bedroom floor plans. Both properties were 95 percent occupied at the time of the loan closing, and 10 percent of the units in both properties are reserved for residents earning less than 80 percent of the area median income. Jason Gaccione, Shawn Rosenthal and Tom Didio of CBRE arranged the funds on behalf of the borrower, a joint venture between Alex Brown Realty Inc. and Belpointe Capital LLC. Los Angeles-based Thorofare Capital provided the financing.