RXR Realty lands $97M Construction Loan
Jones Lang LaSalle arranged the deal on behalf of RXR, securing a floating rate construction loan from Bank OZK.
NEW YORK CITY- RXR Realty has completed a $97 million loan for a mixed-use project in Stamford, CT. The financing will fund the Atlantic Station II, a luxury residential building, comprised of 325 units and 48,000 square feet of retail at 405 Atlantic St.
Jones Lang LaSalle arranged the deal on behalf of RXR, securing a floating rate construction loan from Bank OZK. The loan for Atlantic Station Phase II follows the completion of Atlantic Station Phase I at 335 Atlantic, consisting of 325 luxury condo-like rental units. Delivered in January 2018, the first phase experienced strong leasing velocity due to heavy demand.
The retail component for Phase II is 100% pre-leased to three tenants, who include The Learning Experience, Work Well Win and Dogtopia. The property features sweeping views and amenities that include a 24-hour staffed lobby, a fitness center with floor-to-ceiling glass, resident lounge, outdoor landscaped deck and an elevated swimming pool deck. Units will feature nine-foot ceilings, balconies, hardwood floors, stainless steel appliances, stone countertops, and in-unit washers and dryers.