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Stamford Office Property Gets $24.5M Loan For Wide-Scale Renovations

Mission Capital Advisors arranged for $24.5 million loan for an office building in Stamford
Mission Capital Advisors arranged for $24.5 million loan for an office building in Stamford Photo Credit: Contributed

STAMFORD, Conn. -- Nine West Broad Street, a 191,000-square-foot office property in Stamford, has been approved for a $24.5-million loan in order to make renovations to the property.

Mission Capital Advisors, a national real estate capital markets solutions firm, announced its Debt & Equity Finance Group has arranged the loan.

After acquiring a nearly vacant building in 2013, Westport and Forstone have leased a majority of the building and re-positioned the property by building a brand new driveway and ramp, renovating the ground-floor cafeteria, creating a fitness center and enhancing conference rooms, lobbies and common areas.

With the financing in hand, ownership plans to complete its renovations.

The property has 540 on-site parking spaces and a shuttle service to the Stamford Transportation Center, offering convenience to tenants commuting by car or mass transit. With its location in the heart of Stamford, the property provides easy access to several retail hubs, as well as dining and lodging locations.

Mission Capital Advisors is extremely active in securing debt and equity financing for office, retail, multi-family, industrial and hotel assets, and has been particularly active in closing transactions on suburban office properties across the country.

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