Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-The Goldstar Group and Spectrum Partners have closed on their second distressed debt purchase with the acquisition of a $13-million Key Bank loan secured by a partially completed 142-acre active-adult gated community in southern Connecticut. The site was approved for a total of 233 homes with a clubhouse. 

This is the duo’s second distressed debt acquisition: the first, a $45-million note backed by the Floridian–a luxury condo building located at 919 and 929 Florida Ave. in Washington, DC–having recently closed. The deal also allowed Goldstar to expand its footprint north, Goldstar founder Michael Brodsky says, adding he is looking forward to exploring more opportunities in the debt markets as they present themselves.   

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


GlobeSt. Multifamily Spring 2022 (Formerly APTS)Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.