The Ashforth Company completes $150 million refinancing for Greenwich Plaza - arranged by PGIM Real Estate Finance

December 06, 2019 - Front Section

Greenwich, CT The Ashforth Company, a real estate development firm, has landed a $150 million refinancing for its office property dubbed The Greenwich Plaza, a two-building office complex located in the central business district. PGIM Real Estate Finance arranged the financing. Eastdil Secured led the loan transaction.

Ashforth will use the loan proceeds for the redevelopment of a new transportation center. The 100% occupied office property is located near the Greenwich Train Station that offers express access to New York City and Stamford on the New Haven Metro-North rail line.

Ashforth built the two, four-story office property in 1970, totaling 325,100 s/f, with an underground three-story parking deck. The buildings offer views of Greenwich Harbor and Long Island Sound, landscaped grounds, assisted parking service, HVAC systems and 24-hour security.

“The planned upgrades will further activate the immediate area, to the benefit of companies and employees in Greenwich Plaza and the surrounding community,” said Tom Goodsite, PGIM Real Estate Finance’s managing director who led the transaction.

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