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Debt & Equity

$90M debt financing package crafted for George Comfort’s ‘model’ campus

Mesa West Capital and RCG Longview have provided a venture controlled by an affiliate of George Comfort & Sons with $90 million in debt financing for the High Ridge Park Corporate Center.

The 583,000 s/f Class A suburban office campus is located just off the Merritt Parkway, five miles north of downtown Stamford.

A George Comfort & Sons affiliate acquired the property in 2003 and completed a multi-million dollar renovation that included new building lobbies and common areas, and several other upgraded amenities.

The property is currently 83 percent leased to a variety of national and regional tenants.

High Ridge Park Corporate Center.
High Ridge Park Corporate Center.

The financing included $77.5 million in short-term senior debt from Mesa West and a $12.5 million mezzanine loan from RCG Longview.

A portion of the proceeds will go towards leasing costs associated with further stabilizing the property.

“High Ridge Park Corporate Center is a model for other suburban office parks,” said Mesa West principal Raphael Fishbach.

“In addition, the combination of the property’s excellent location, recent capital investment, and sponsor’s strong reputation within the local leasing community will continue to make High Ridge Park Corporate Center an attractive destination for high quality tenants.”

This is the second significant financing of a Tri-State suburban office asset by Mesa West in the past 30 days.

Last month, the Los Angeles-based portfolio lender provided New Jersey-based Normandy Real Estate Partners with a $119 million loan to refinance a 1.4 million square foot suburban office portfolio in Westchester County, New York.

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