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HFF Secures JV Equity for Stamford Apartment Buys
Joint venture equity of $8.4 million for the acquisition of The Moderne and The Verano, two apartment communities totaling 116 units in downtown Stamford, CT, has been arranged by HFF. An HFF team of Chris Hew and Peter Rotchford secured the financing through a national life insurance company on behalf of Navarino Capital Management.
The Moderne, a 58-unit property built in 2013 and located at 163 Franklin St., and The Verano (pictured), a 58-unit property built in 2014 and located at 750 Summer St., are in the heart of the Stamford CBD. Both feature high-end amenities, including full-sized balconies, stainless steel appliances and state-of-the-art fitness centers.
Navarino Capital Management, founded in 2009, is the investment partnership arm of a second-generation Connecticut multifamily owner/operator with over 35 years of combined multifamily experience. Its principals have owned over 2,000 units in more than 40 properties.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Sale/Acquisition
