Stamford developer lands $91M for multifamily project

Local developer F.D. Rich Company struck it big with a financing package in downtown Stamford. The Connecticut-based company scored $91 million in construction financing for the Coastline at 130 Broad Street, the Commercial Observer reported. The 198-unit complex is expected to be completed by summer 2027. Bank OZK led the financing with a $59 million senior loan. The Real Estate Credits Solutions platform of 3650 Capital came in with the remaining $32 million mezzanine financing. No broker for the financing was disclosed. The 13-story project will consist largely of market-rate apartments, though there will also be 17 affordable units. There […]This article originally appeared on The Real Deal. Click here to read the full story.