Spinnaker Real Estate Partners has secured a $49.2 million loan from Fannie Mae to refinance a 150-unit apartment building in Norwalk completed in 2024. Commercial real estate lender Greystone said it originated the Delegated Underwriting and Servicing (DUS) loan for SoNo Central, a six-story, 248,936-square-foot mixed-use building, at 10 Monroe St., in South Norwalk. The […]
Spinnaker Real Estate Partners has secured a $49.2 million loan from Fannie Mae to refinance a 150-unit apartment building in Norwalk completed in 2024.
Commercial real estate lender Greystone said it originated the Delegated Underwriting and Servicing (DUS) loan for SoNo Central, a six-story, 248,936-square-foot mixed-use building, at 10 Monroe St., in South Norwalk. The financing was arranged by Clint Darby, a senior managing director in Greystone’s Chicago office, and Andrew Remenschneider, a transaction manager handling Fannie Mae and Freddie Mac multifamily loan originations.
SoNo Central includes studio, one- and two-bedroom apartments across 138 residential units, with 10% deed-restricted for renters earning at or below 80% of the area median income, along with 12 ground-floor commercial units. Amenities include a fitness center, co-working lounge, courtyard pool, barbecue stations and a bocce court.
The property is appraised at $49.9 million and assessed at $34.9 million, according to property records.
Spinnaker has developed
more than 1,500 multifamily units statewide over the past five years.
