CBRE Capital Markets’ Debt & Structured Finance team has arranged a $53.5 million refinance loan of the Greenwich Financial Center. Working on behalf of the borrower, Greenwich-based developer/owner/operator, HB Nitkin, the firm secured a sub-5 percent loan with a 10-year, fixed-rate loan with a 30 year amortization schedule that converts to interest only payments after two years. The 75 percent loan to value instrument was provided by Lstar Capital Finance. Proceeds from the funding were used to replace existing debt. Located at 1 Fawcett Place, in downtown Greenwich, the three story office building boasts 81,000 square feet with 19,000 sqf of ground floor retail space fronting Greenwich Avenue. Retail tenants include Tiffany’s, Sacks Fifth Avenue, Baccarat, Ralph Lauren and Apple.
