Sun Homes and Hudson Bay Capital have secured $74.5 million to acquire and redevelop The Caspian, a luxury development in Stamford, Conn.
The project will transform an existing seven-story, 241,000-square-foot waterfront office building into 63 luxury condominium residences featuring a mix of one-, two- and three-bedroom homes as well as townhome residences.
Amenities include a grand lobby, indoor and outdoor amenity spaces, private rooftop terraces, a 57-slip marina and structured parking.
Situated on 1.38 acres along Long Island Sound in Stamford’s Shippan Point neighborhood, The Caspian offers a waterfront setting complemented by its own 57-slip marina. The property also provides access to nearby dining, retail, transportation and Metro-North service to Manhattan, N.Y.
The Walker & Dunlop Capital Markets Institutional Advisory arranged financing from an affiliate of Apollo Global Management.
