Darien, CT – The Westport office of Goedecke & Co., LLC has arranged $10.25 million in first mortgage financing for the refinance of 19 Old Kings Highway South, a 43,500 sq.ft. suburban office building located in Darien, Connecticut.
Goedecke principal Timothy Breda and senior associate Kristin Zuckerman worked exclusively on behalf of the buyer to secure a long term, fixed rate, non-recourse loan from PeoplesBank. The borrower is a single purpose entity controlled by Forstone Capital.
Said Breda, “19 Old Kings Highway is a completely renovated, Class A office building situated within walking distance to the Metro North train station, in the heart of downtown Darien with excellent visibility and access to I-95. Forstone Capital did a fantastic job of repositioning and refreshing this asset to attract a wide variety of quality office tenants. PeoplesBank provided a very competitive long term, non-recourse loan consistent with Forstone’s objectives.”
Forstone Capital, LLC is a boutique real estate investment firm headquartered in Darien, Connecticut. Since its inception in 2007, Forstone Capital has acquired more than 1,000,000 sq.ft. of office, retail and multi-family properties throughout Connecticut.