Walker & Dunlop Arranges Financing for Stamford Residential Conversion

Walker & Dunlop has arranged a $74.5-million loan for the acquisition and redevelopment of The Caspian, a luxury development in Stamford, CT. The Walker & Dunlop Capital Markets Institutional Advisory team led by Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer, Dustin Stolly, Jordan Casella and Stanley Cayre arranged the financing, provided by an affiliate of Apollo Global Management, on behalf of Sun Homes and Hudson Bay Capital.

Located at 68-70 Seaview Ave., the project will transform an existing seven-story, 241,000-square-foot waterfront office building into 63 luxury condominium residences featuring a mix of one-, two-, and three-bedroom homes along with townhome residences. Amenities include a grand lobby, indoor and outdoor amenity spaces, private rooftop terraces, a 57-slip marina and structured parking.

“Fairfield and Westchester counties remain highly supply-constrained residential markets, particularly for new waterfront product given limited developable shoreline and complex entitlement processes,” said Jonathan Schwartz. “The Caspian is uniquely positioned to address that supply-demand imbalance with a best-in-class luxury offering in one of the region’s most desirable waterfront locations. We’re grateful to Sun Homes, Hudson Bay Capital, and Apollo Global Management for their partnership in bringing this vision forward.”