{"id":1004352755,"date":"2019-09-17T22:16:17","date_gmt":"2019-09-18T06:16:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004352755"},"modified":"2021-05-10T02:06:35","modified_gmt":"2021-05-10T10:06:35","slug":"barings-sells-stamford-office-building-for-15m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/barings-sells-stamford-office-building-for-15m\/","title":{"rendered":"Barings Sells Stamford Office Building for $15M"},"content":{"rendered":"
\"\"<\/a>

Soundview Plaza. Image courtesy of Cushman & Wakefield<\/em><\/p><\/div>\n

After recently selling Regency Plaza in Denver<\/a>, Barings\u2014on behalf of institutional investors\u2014has sold the 179,000-square-foot Soundview Plaza in Stamford, Conn., to an entity affiliated with Twenty Lake Holdings. Yardi Matrix data shows the asset changed hands for $15.2 million, while ConnectOne Bank originated a $26 million, two-year bridge loan for the buyer.<\/p>\n

The new owner plans to kick off a capital improvement program at the property. According to Yardi Matrix, Soundview Plaza underwent cosmetic upgrades un 2015. Located at 1266 E. Main St., the seven-story building includes a three-story atrium lobby and common-area amenities such as a cafeteria, fitness facility, conference center and covered parking structure.<\/p>\n

At the time of sale, the asset was 88 percent leased to a tenant roster comprising Regus, Siegel & Kaufman and Petretti & Associates, also per Yardi Matrix information. Situated at exit 9 off Interstate 95, the asset is close to retail and dining options in downtown Darien, as well as the Stamford Transportation Center, which provides Metro North Rail access throughout the region. <\/p>\n

The Cushman & Wakefield team of Vice Chairman Gary Gabriel, Executive Vice Chairmen David Bernhaut and Andy Merin, along with Executive Managing Directors Brian Whitmer and Al Mirin, Director Matt Torrance, Associate Director Frank DiTommaso and Associate Kate Schwartz, worked on behalf of the seller and procured the buyer. According to DiTommaso, the new owner will benefit from the in-place cash flow while the renovation program is implemented.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new owner financed the acquisition through a two-year loan and intends to implement a capital improvement program. <\/p>\n","protected":false},"author":748,"featured_media":1004352761,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,10,21747],"tags":[34275,35022,32799,35020,35021,33655],"class_list":["post-1004352755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-northeast","category-office","tag-barings","tag-brian-whitmer","tag-cushman-wakefield","tag-david-bernhaut","tag-gary-gabriel","tag-regus"],"acf":[],"yoast_head":"\nBarings Sells Stamford Office Building for $15M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/barings-sells-stamford-office-building-for-15m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Barings Sells Stamford Office Building for $15M\" \/>\n<meta property=\"og:description\" content=\"The new owner financed the acquisition through a two-year loan and intends to implement a capital improvement program.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/barings-sells-stamford-office-building-for-15m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-18T06:16:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-10T10:06:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/Soundview-Plaza-e1568721022315.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1001\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lucia Morosanu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/barings-sells-stamford-office-building-for-15m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/barings-sells-stamford-office-building-for-15m\/\",\"name\":\"Barings Sells Stamford Office Building for $15M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/barings-sells-stamford-office-building-for-15m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/barings-sells-stamford-office-building-for-15m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/Soundview-Plaza-e1568721022315.jpg\",\"datePublished\":\"2019-09-18T06:16:17+00:00\",\"dateModified\":\"2021-05-10T10:06:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1077c2cf363c47bc75d1ab4c42b53bb5\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/barings-sells-stamford-office-building-for-15m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/barings-sells-stamford-office-building-for-15m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/barings-sells-stamford-office-building-for-15m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/Soundview-Plaza-e1568721022315.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/Soundview-Plaza-e1568721022315.jpg\",\"width\":1001,\"height\":750,\"caption\":\"Soundview Plaza. 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