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Two Merritt 7 Office Properties Set for Residential Conversion

CBRE completed the sale of 101 and 201 Merritt 7, two Class A office buildings totaling 511,318 square feet in Norwalk, CT on behalf of seller Merritt 7 Venture LLC. A joint venture of Saber-Hightower LLC, Granoff Real Estate & Wind River Holdings plans to convert the two buildings into M7 Lofts, a 286-unit luxury apartment community with more than 55,000 square feet of amenity space.

Vice chairman Jeffrey Dunne, first VP Eric Apfel, investment sales director Travis Langer and senior financial analyst Eric Greenberg of CBRE represented the seller and procured the purchaser. Bank OZK provided a $75.5-million senior construction loan to support the conversion of the buildings.

Built in 1980 and 1982, the two buildings sit within the broader Merritt 7 office park. Under Norwalk’s 2023 comprehensive rezoning, the site carries an as-of-right residential density of up to 564 units, but Saber-Hightower’s plan calls for 286 loft-style units.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Financing