19 Old Kings Highway South - Darien, CTDarien, 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 s/f suburban office building. 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.
Breda said, “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.
Goedecke & Co., LLC is New England’s largest privately-owned commercial mortgage banking company, with offices in Boston, and Westport, Conn. Goedecke provides customized access to regional, national and international debt and equity markets for real estate capital, and in the past 36 months has successfully arranged more than $3.66 billion in financing for the region’s developers and investors. The company is based in Boston, and was founded by Peter Goedecke in 1998 after the sale of the Fowler, Goedecke, Ellis & O’Connor companies to AMRESCO.