HFF arranges $3M loan for new Chase Bank site in Darien, CT

 
NEW YORK, NY – The New York office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $3.0 million permanent loan for a 3,500-square-foot JP Morgan Chase bank building under construction in the Noroton Heights section of Darien, Connecticut.

HFF senior managing director Al Epstein (top right photo)  worked on behalf of the borrower, Golden Heights LLC to secure the 10-year, fixed-rate loan through Peoples Bank of Massachusetts. The borrower is an affiliate of Thomas Golden Realty Company, which owns a number of commercial properties in Darien.

The site is located at 169 Noroton Avenue in the Noroton Heights section of Darien. Scheduled for completion within two months, the new Chase Bank building will be a one-story structure with two drive-through ATM’s and 24 parking spaces.

“The lender, Peoples Bank, recognized the uniqueness of the property’s location. New developments don’t come easy in this area as Darien has high barriers to entry. This is a busy intersection across from the Noroton Heights Metro Station that leads into a very active retail area that is anchored by Stop and Shop, Walgreen Drugs and Equinox,” said Epstein.

“In the same general area, Thomas Golden Realty Company is in discussions with the Town of Darien for developing a high quality, low-rise multi-housing/mixed-use commercial transit-oriented property to adjoin the Stop and Shop and Walgreen property.”

Contacts:
Alvin J. Epstein, HFF Senior Managing Director, (212) 245-2425, aepstein@hfflp.com
 Kristen M. Murphy,  HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com