**3650 Capital Provides $32M Mezzanine Loan for Stamford Multifamily Project**
3650 Capital has originated a $32 million mezzanine loan to fund the ground-up construction of The Coastline, a forthcoming Class A multifamily development located at 130 Broad Street in Stamford, Connecticut. Scheduled for completion in summer 2027, the 13-story project will feature 198 units, including 181 market-rate and 17 below-market-rate apartments.
The Coastline is also being supported by a $59 million senior loan issued by Bank OZK. The mezzanine loan was originated through 3650 Capital’s Real Estate Credit Solutions platform and was made to TR Broad II, LLC, a partnership tied to the F.D. Rich Company, a Stamford-based developer. The transaction was arranged by Ari Schwartzbard, senior managing director at Newmark.
“We continue to see strategic opportunities to deploy capital for ground-up multifamily construction in select submarkets such as Downtown Stamford, which exhibits limited new supply, strong recent population growth, and high household incomes,” said Jonathan Roth, co-founder and managing partner of 3650 Capital.
The Coastline’s development adds to the continued growth and evolution of Stamford’s urban landscape, positioning itself to meet ongoing demand in one of the region’s most dynamic residential markets.
