Avison Young has arranged a permanent mortgage loan totaling $22.5 million on behalf of an investor group led by Mountain Development Corp. for Harbor Square, a multi-building office campus in Stamford, CT. The campus, encompassing 165,114 square feet, is located at 700 and 850 Canal St. and serves as an institutional-quality office asset in the Stamford market.
The financing was provided by Bank of Montreal, with BMO acting as the lender on the transaction. The loan is structured as permanent mortgage financing, offering long-term debt capital for the Harbor Square office campus.
Avison Young’s Tri-State Debt and Equity Finance team led the assignment for the borrower. Principals Scott Singer and Andy Singer, executive director Kevin Swartz, and senior director Jeff Moroch headed the effort and worked in coordination with Mountain Development Corp. president Michael Seeve to secure the loan. On the lending side, BMO’s team on the transaction was led by Rich Bianchi and Rick Grassey.
Commenting on the transaction, Scott Singer noted that the Harbor Square financing highlights the continued appeal of well-located, institutionally managed office properties in Stamford. He added that the deal aligns with momentum the firm is observing across the Stamford office market, reflecting ongoing investor and lender engagement in the area.
Singer also pointed to Harbor Square’s combination of historic architecture, transit connectivity and established ownership as key strengths recognized by the lender. According to Singer, BMO’s decision to provide the permanent mortgage was informed by both the quality of the real estate and Mountain Development Corp.’s track record in operating and stewarding office assets. He emphasized Avison Young’s role in advising the Mountain Development-led investor group through the financing process and in aligning the borrower with BMO’s lending platform.
The Harbor Square transaction underscores the ability of experienced sponsorship to access bank mortgage capital for office campuses that pair locational advantages and connectivity with institutional management standards in a competitive capital markets environment.
