Stone Harbour Capital lands loan for 77-unit multifamily property in Stamford

Stone Harbour Capital has landed an approximately $33 million loan for a conversion project it is carrying out in Stamford, the Fairfield County Business Journal reported.  The private equity firm plans to use the loan, originated by ACRES Capital Corp., to convert an office and retail building at 1 Atlantic Street into a multifamily building with retail space on the ground floor, according to the outlet. The building will house a total of 77 studio, one-bedroom and two-bedroom apartment units. “One Atlantic has enormous potential for a repositioning, as its prime, downtown Stamford location makes it perfectly suited for a multifamily conversion,” Marty Reasoner, ACRES managing partner for originations, said in a statement. [FBJ]