Cornerstone Arranges $21.5M Refinancing of Bob’s Discount Furniture Headquarters in Connecticut
MANCHESTER, CONN. — Cornerstone Realty Capital has arranged a $21.5 million loan for the refinancing of Bob’s Discount Furniture’s headquarters office building in Manchester. The borrower, Waterstone Properties Group, developed the 103,500-square-foot building on a nine-acre tract in 2017. Amenities include a café with a lounge, break rooms, conference facilities and 416 parking spaces. The loan was structured with a fixed interest rate, 25-year amortization schedule and a 75 percent loan-to-value ratio.