Quarterra Lands $125M Refi for Connecticut Property
Franklin BSP Realty Trust originated the floating-rate senior loan.
Quarterra Multifamily has secured $125 million for the refinancing of The Smyth, a 414-unit community in downtown Stamford, Conn. Franklin BSP Realty Trust originated the floating-rate senior loan that carries a three-year term with two one-year extension options.
Completed in 2023, the property rises 17 stories and includes 19,000 square feet of retail space on the ground floor. The community encompasses one-, two- and three-bedroom floorplans, as well as penthouse layouts ranging between 574 and 2,065 square feet. Common-area amenities include a rooftop swimming pool, grilling stations, a fitness studio, a podcast recording room and a demonstration kitchen.
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Located at 100 Tresser Blvd., in an Opportunity Zone, The Smyth is about 1 mile from Stamford Hospital and within walking distance of the Stamford train station. The property is also near the Landmark Square and Stamford Town Center shopping mall.
A subsidiary of Lennar Corp., Quarterra operates a national multifamily portfolio of more than 80 properties, representing nearly $10 billion in development costs. Additionally, the company estimates an $8 billion potential pipeline for future growth. The Smyth is the company’s first community in Connecticut.
