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RXR’s Stamford MXU Lands $98M Financing
JLL recently arranged $97.5 million in financing for the development of the second phase of RXR Realty’s Atlantic Station mixed-use residential and retail project in downtown Stamford, CT. A capital markets team including Mike Tepedino, Michael Gigliotti and Scott Findlay worked on behalf of RXR.
The floating-rate construction loan was provided by Bank OZK. The 26-story second phase of the Atlantic Station project will consist of 325 condominium-quality units, approximately 48,000 square feet of retail and a 534-space structured parking garage. The retail component is 100% pre-leased to three tenants.
The development of the second phase of Atlantic Station follows the success of the first phase, which consists of 325 luxury rental units along with 321 on-site, structured parking spaces and 16,000 square feet of retail. The first phase was delivered in January 2018, and experienced strong leasing velocity due to heavy demand for luxury rental units in the area.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Development
