$86M Financing for Stamford's 826,000-sf Landmark Square
21 Dec, 2011, Stamford, Conn.
Cushman & Wakefield Sonnenblick Goldman, serving as the exclusive advisor to an affiliate of SL Green Realty Corp. ("SL Green"), has arranged an $86 million senior mortgage loan for Landmark Square in Stamford, Conn. The five-year fixed-rate financing was provided by AIG Asset Management on behalf of a wholly owned life insurance subsidiary of American International Group, Inc.
Landmark Square is a dynamic 826,000-square-foot mixed-use property located on a 7.16-acre campus in the heart of Stamford's CBD. The property consists of seven buildings (including a nine-screen movie theater). With office space offerings from boutique, full-floors (or smaller) to large contiguous blocks, Landmark Square can accommodate various types of tenant space needs and offer its tenants tremendous flexibility for growth.
SL Green has completed numerous upgrades at the property since 2007 and is underway with a major capital improvement program. Completed work includes newly renovated and landscaped plazas, upgraded common area lighting with high-efficiency lighting, renovated elevators, and a renovated 20,000 square-foot tenant-only health club. Currently, the owner is upgrading the common areas and completing a modernization and upgrade of the atrium which will include a sophisticated, grand entryway accentuated by the finest new materials creating an elegant and inviting space for tenants and visitors.
Steven Kohn, president of Cushman & Wakefield Sonnenblick Goldman, said, "Landmark Square is one of the truly premier properties in Stamford. That fact along with the strong sponsorship of SL Green were of utmost importance to the lending community." The CWSG team included Mr. Kohn, Alex Hernandez, Christopher Moyer and Sridhar Vankayala.