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One Atlantic Street

Stamford, CT

Mixed-Use - Adaptive Reuse

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Stamford, CT

One Atlantic Street

MIXED-USE - ADAPTIVE REUSE

ACRES Capital originated a $33 million loan to fund the conversion of One Atlantic, a historic, nearly 94,000-square-foot mixed-use office and retail property. The property will be a 77-unit multifamily building with ground-floor retail. The loan is provided to Stone Harbour Capital, a locally based real estate private equity firm with deep expertise in the Stamford market, and carries a term of 36 months.

Located at 1 Atlantic Street, One Atlantic sits directly adjacent to the University of Connecticut’s growing Stamford campus and is a walkable distance from Stamford Station.

The property will include:

  • 200 windows
  • 150-foot by 60-foot floorplates
  • Ground-retail, including multiple contemporary retail storefronts
  • Five sets of double doors and visible signage

The sponsors seek to create a unique Stamford dining and nightlife experience in the property’s basement space and are currently in talks with several prominent food hall managers and operating companies.

The multifamily market in Stamford’s Central Business District has enjoyed a significant uptick as many young professionals and others have elected to relocate from primary to secondary markets. Investment in Stamford has increased as this trend continues to take hold, making the area ripe for new developments and a blossoming multifamily market to meet demand.

$33 Million

Loan Amount

36 Months

Loan Term

Bridge Loan

Loan Product

“The professional team at ACRES, led by Marty Reasoner, quickly understood the complexities associated with the conversion process and stepped up to deliver a customized loan package ideally suited to meet the project’s objectives. We look forward to working with their hands-on servicing team to deliver the new Shoppes and Residences at One Atlantic to the Stamford marketplace.”

- Rick Aurilio, Stone Harbour Principal

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