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| Kristen Knapp |
NEW YORK, NY, Nov. 23, 2020 — JLL Capital Markets announced today that it has arranged a $68 million construction loan for Canfield Park at Fairfield Metro, a 300-unit luxury multi-housing property in the Black Rock neighborhood of Bridgeport, Connecticut.
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| Peter Rotchford |
JLL worked on behalf of the borrowers, a joint partnership
between Spinnaker Real Estate Partners, LLC and Eastpointe, LLC, to secure the
loan through Sculptor Real Estate. Construction on the property is slated to
begin this fall and expected to be completed in 2022.
The development comprises two
mid-rise five- and six-story apartment buildings including studio, one- and
two-bedroom units, averaging 850 square feet.
The property also offers over 20,000 square feet of amenity
space and a parking garage with 500 parking spots for residents.
Canfield Park is located directly across from the Fairfield Metro North Train
Station on the Fairfield/Bridgeport line and less than half a mile away from
Interstate 95, allowing ready access to transportation for residents.
The property is also a five-minute walk to Black Rock’s
shopping district with its diverse collection of restaurants, bars and retail
shops.
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| Christopher Peck |
The JLL Capital Markets
team representing the borrowers was led by Senior
Managing Director Christopher Peck, Senior Director Peter
Rotchford, Vice President Kristen Knapp and Analyst Rob Root.
“This project will be
highly attractive to families transitioning to a more suburban lifestyle, as
well as to empty nesters downsizing from large single-family homes to modern
rental properties,” said Rotchford.
“The
Bridgeport market has seen a large influx of New York City residents since the
beginning of the COVID-19 crisis, and this property is well positioned to
benefit from the shift in renter preferences.”
For more news, videos and research resources on JLL, please visit our newsroom.
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| Rob Root |
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.
JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.
JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020.
JLL is the
brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For
further information, visit jll.com.
Steven E. Orbuch
About Sculptor Real Estate
Sculptor Real Estate
was founded by Steven E. Orbuch in 2003 to make investments in real
estate and real estate related assets across North America and Europe.
Sculptor Real Estate has invested in over
$14.5 billion of real estate assets across 24 different real estate-related
asset classes, including direct equity investments, preferred equity
structures, senior loans, mezzanine loans, ground leases and other credit
investments.
For
more information, please visit Sculptor Capital’s website (www.sculptor.com).
Contacts:
Natalie Passarelli
Public Relations
Jones Lang LaSalle Americas, Inc.
200 E. Randolph St.
Chicago, IL 60601
M +1 224 477 7307
George Shea, Rachel Tate
Company: Shea Communications
Phone: +1-760 -519-4596
Email: rachel@sheacommunications.com
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