News: Financial Digest
Posted: March 11, 2022
CBRE secures $89 million in financing for 75 Tresser Blvd.
Stamford, CT CBRE Capital Markets’ Debt & Structured Finance team has arranged an $89 million loan for the acquisition of 75 Tresser Blvd., a 344-unit, four-story residential property located in downtown.
CBRE arranged the loan on behalf of Monday Properties and Washington Capital and financing was provided by Apollo Global Management.
A CBRE team of Jason Gaccione, Shawn Rosenthal, Jake Salkovitz and Lauren Weinstein facilitated the loan on behalf of the borrower.
The new owners plan to initiate a unit renovation program and amenity upgrades to modernize and reposition the asset.
Built in 2014, the asset offers studios, one, two and three-bedroom apartments with stone countertops, wood-style flooring, nine-foot ceilings, panoramic windows, and in-unit washers and dryers. Select units feature 12-foot ceiling lofts, Juliette balconies, patios and terraces.
75 Tresser Boulevard also boasts a vast array of amenities, including three outdoor courtyards including one with a swimming pool and outdoor grilling stations, a community lounge area, catering kitchen, conference room, technology center, and a best-in-class 5,000-square-foot fitness center and yoga studio.
Tags:
Financial Digest
MORE FROM Financial Digest
Financial Digest
Example Story Title FD 5
Boston, MA The fall season always marks the return of IFMA Boston events, and this year is no different. Registration is now open for IFMA Boston’s FMForward Deep Dive 2024. The FMForward Deep Dive 2024 Conference will be held on November 19th at the Babson Executive Conference Center in Wellesley, Mass.
Columns and Thought Leadership
Cracking the code: Understanding the pros and cons of Delaware Statutory Trusts for 1031 Exchange real estate investors - by Dwight Kay
In the realm of real estate investing, the 1031 exchange Delaware Statutory Trust can provide savvy real estate investors a unique opportunity to achieve passive management, the potential for regular monthly distributions, and a way to enter one of the most tax efficient real estate investment strategies available today.
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
What’s UP with that? - by Kyle Kadish
Investors have multiple tools to defer tax liabilities when selling investment properties. The best known is likely a 1031 exchange - which has been around in some form or fashion for over 100 years. Installment sales have existed as part of the code for more than 75 years. Newer legislation (2017) created Qualified Opportunity Zones (QOZs)
Another reason to stay debt free in a 1031 Delaware Statutory Trust exchange - by Dwight Kay
It seems like every day there is another reason showcasing the reason why more and more investors are choosing to stay debt-free when investing in Delaware Statutory Trust (DST) properties in a 1031 exchange.