Norwalk, CT JLL Capital Markets has arranged $55.83 million in acquisition financing for The Berkeley at Waypointe and Quincy Lofts, a multi-housing property located at 500 West Ave. and 30 Orchard St.
JLL worked on behalf of Invictus Real Estate Partners, a New York City-based real estate private equity company, to secure the acquisition loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender.
Completed in 2017, The Berkeley at Waypointe and Quincy Lofts are two multi-housing developments with a total of 198 units. The Berkeley is a five-story building consisting of 129 units and 10,331 s/f of ground-floor retail surrounding a 371-space parking garage. The Berkeley features a clubroom, fitness center and rooftop deck with views of the Long Island Sound. Quincy Lofts is a five-story building consisting of 69 units over 87 ground-floor level parking spaces and features a resident lounge and outdoor patio with grills and fire pits.
Located in Fairfield County, The Berkeley at Waypointe and Quincy Lofts are one hour away from Manhattan, offering convenient access to I-95 and close to the MTA’s South and East Norwalk train stations. It also stands in close proximity to employment hubs such as Greenwich and Stamford.
The Berkeley at Waypointe and Quincy Lofts are adjacent to The Waypointe, a 464-unit, mixed use project that was purchased by Invictus in August and financed by the JLL Capital Markets team.
The JLL Capital Markets team representing the borrower was led by managing directors Scott Aiese and Peter Rotchford, vice president Alex Staikos and analyst Brendan Collins.
“The Berkeley at Waypointe and Quincy Lofts are highly attractive multi-housing assets with class-A amenities and easy access to New York City,” said Aiese. “The two properties will benefit from the growing population of renters seeking alternatives to New York City that offer high-end amenities and a dynamic community of nearby restaurants and retail.”