 |
| The Waypointe apartments, 515 West Avenue, Norwalk, CT |
NEW YORK, NY — JLL Capital Markets announced it has arranged $107.25 million in acquisition financing for the purchase of The Waypointe, a multi-housing property located at 515 West Ave. in Norwalk, Connecticut.
JLL worked on behalf of the borrower, Invictus Real Estate Partners, to secure the loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender.
Scott Aiese
The Waypointe is a multi-housing development with ground-floor commercial space. The property offers 464 apartments and 56,000 square feet of retail and restaurant space.
Apartments include one-, two- and three-bedroom units, and feature high ceilings, large windows, and modern design.
Residential units are currently 93-percent occupied and the Class-A retail and restaurant spaces are 74 percent leased.
The property consists of two buildings with community amenities including two parking garages allowing 1,027 spaces for residents, a fitness center and an outdoor heated, salt-water pool.
The Waypointe boasts a lively community, positioned along a restaurant-lined pedestrian street and open-air plaza. The complex is currently home to popular restaurants and retail options such as Barcelona Wine Bar, Colony Grill, and a JP Morgan Chase bank.
 |
| Eric Scheffler |
The brick facade treatments and strategically-placed tower design elements add architectural interest and a historic aesthetic to the community.
Located in the heart of Connecticut’s vibrant Fairfield County, The Waypointe is one hour away from Manhattan, offers convenient access to I-95, and is minutes from the MTA’s South and East Norwalk train stations.
It is also in close proximity to employment hubs like Greenwich and Stamford, CT.
“We have been an investor in the development of these Norwalk properties since 2014, and we are happy to add The Waypointe to our portfolio,” said Eric Scheffler, managing principal of Invictus Real Estate. “This acquisition is part of our business plan to acquire institutional quality, transit-oriented multi-housing properties, concentrated in key growth markets.”
 |
| Peter Rotchford |
The JLL Capital Markets team representing the borrower was led by Managing Director Scott Aiese, Senior Director Peter Rotchford, Vice President Alex Staikos, and Analyst Brendan Collins.
“The Waypointe is a multi-housing property offering easy access to New York City,” said Aiese. “The property is a highly attractive destination in the current environment, when increasing numbers of renters are seeking high-end amenities, abundant outdoor space, flexible commuting options and a dynamic community with restaurants and retail.”
“Properties like The Waypointe, with Class-A amenities and an ideal location are rare,” added Rotchford. “The property will benefit from the growing number of renters seeking alternatives to densely populated urban areas and a better work-life balance.”
“Multi-housing debt terms – specifically, interest only periods, leverage, and coupons – are the best I’ve seen in my career, due to record liquidity levels combined with historically low US treasury rates,” continues Aiese.
 |
| Alex Staikos |
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.
The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
. CONTACTS:
Natalie
Passarelli
Public Relations
Jones
Lang LaSalle Americas, Inc.
200
E. Randolph St.
Chicago, IL 60601
M
+1 224 477 7307
George
Shea, Adelaide Bullock
Shea Communications
Phone: +1 212 627 5766
Email: abullock@sheacommunications.com
No comments:
Post a Comment