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New York & Tri-State  + Tri-State  + Finance  |  May 13, 2024
Emily Fu
By: Emily Fu

FBRT Closes $125M Loan on Stamford 414-Unit MF Property 

Franklin BSP Realty Trust, Inc.(FBRT) has closed a $125 million floating-rate senior loan for the refinancing of a 414-unit multifamily property with 18,000 square feet of retail space in downtown Stamford, CT. This property, built in 2023, features a mix of residential and commercial spaces. 

The loan, which has a three-year initial term and two one-year extension options, was provided to Quarterra Multifamily, a subsidiary of Lennar Corporation.  

“We are excited to close this financing with Quarterra on this exceptional property in downtown Stamford. With delivery beginning in 2023, lease up at the property has been very strong.” said Michael Comparato, president of FBRT. Inclusive of this loan, FBRT has committed to $408 million of loan originations to date in the second quarter and $999 million year-to-date. 

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Inside The Story

Michael Comparato

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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