CBRE gets $53.5M in refinancing for 2 Norwalk multifamily properties

May 08, 2019 05:12PM

Los Angeles-based Thorofare Capital has provided $53.5 million in senior debt to refinance a multifamily portfolio in Norwalk, the Daily Voice Plus reported. The portfolio includes Berkeley at Waypointe on West Avenue and the Quincy Lofts on Orchard Street, which house a total of 198 units. Affiliates of Alex Brown Realty and the Belpointe Companies developed the two properties back in 2016, according to DVP. The financing was arranged by CBRE’s debt and structured finance group in its New York office and will “be used to retire the original senior construction loan and provide future funding to cover costs associated with the lease-up of the retail space,” the outlet reported. [DVP]