Westport, Connecticut – A 41,957-square-foot office and retail complex in Westport, Connecticut. The financing was provided by Securian Asset Management.
A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Sridhar Vankayala and Zachary Kraft represented the buyer.
“Located in the heart of Westport, Connecticut, with a diverse tenant roster, National Hall represented a compelling opportunity for lenders,” said John Alascio. “Our team was able to secure multiple offers from different capital sources for this transaction.”
“While straightforward on the surface, the transaction involved condo, easement and ground lease aspects that made the eventual execution challenging,” added Sridhar Vankayala. “The EDSF team was able to navigate these with lenders and our client eventually picked Securian given their local understanding of the asset and terms that fit his long-term business plan.”
Robert Hartt, principal of Hartt Realty Advisors, LLC, the asset and property management company representing the owner, added, “The Cushman & Wakefield team dug into the details of the real estate and added a lot of value to the transaction. This might not have gotten done without the team’s market knowledge and guidance.”
National Hall is a mixed-use property located on the Saugatuck River waterfront in Westport, Connecticut. Notable tenants include Bartaco Westport, Berkshire Hathaway HomeServices, The Meatball Shop and Greenfield Partners. Cushman & Wakefield also served as the exclusive sales agent on this transaction.About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.