PGIM Real Estate Finance has provided a $150 million loan to refinance and renovate a 354,000-square-foot office/retail complex in Greenwich, Conn., reported multiple media outlets.
The Ashforth Co. developed Greenwich Plaza in 1967 in a public-private partnership with the Town of Greenwich. With the Town, Ashforth developed the office buildings, train station, retail spaces and municipal parking, and the agreements were for 90 years.
Greenwich Plaza consists of two four-story buildings and a three-story subterranean garage. Also, other funds will be used for the redevelopment of Greenwich Train Station, the Metro-North station on Railroad Avenue, owned and operated by Ashforth, as well as for the construction of a new transportation center.
