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Debt & Equity

iPark secures $94M loan

Mark Scott’s Commercial Mortgage Capital (CMC) closed a $94 million permanent loan for a 365,866 s/f office building, dubbed i.Park Norwalk, located at 761 Main Avenue in Norwalk, CT.

MARK SCOTT
MARK SCOTT

“The property boasts a phenomenal roster of long-term, credit tenants,” said Scott, founder and president of Commercial Mortgage Capital. “We were able to secure a favorable rate for our client and have seen a substantial upswing in the market – particularly for well-located office, multifamily and industrial assets. We expect transaction volume to coSAntAinue growing at a favorable pace as we move further into 2014.”

Located on a 30 acre campus, the former home of Perkin Elmer, the property’s tenant list includes Norwalk Hospital, LA Fitness, and the headquarters of Cannondale Sports Group (CSG), a bicycle manufacturer.

i.Park Norwalk has recently undergone a multi-million dollar capital improvement program to transform the entire property into an efficient, high-tech campus.

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