While Gov. Hochul vowed to provide funding to adequately finance MTA projects, at press time no firm plans have been released.
According to the FBI’s 2023 Internet Crime Complaint Center Report, there were more than 101,068 complaints filed by individuals over 60 years old resulting in more than $3.4 billion in losses in 2023.
A well-known business leader, Weale was perhaps best known for co-founding Country Bank in Carmel and later serving as President and CEO of the Putnam County Economic Development Corp. for 13 years.
NORWALK, CT—New York City-based Invictus Real Estate Partners has secured acquisition financing totaling $107.25 million for its purchase of The Waypointe multifamily property here.
JLL Capital Markets arranged the financing through Freddie Mac and worked on behalf of the borrower. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender. Invictus owned 10% of the 464-unit property at 515 West Ave. and according to The Real Deal, purchased the remaining 90% interest from Carmel Partners.
In addition to the 464 units, The Waypointe offers 56,000 square feet of retail and restaurant space. Apartments include one-, two- and three-bedroom units, and feature high ceilings, large windows, and modern design. Residential units are currently 93% occupied and the Class-A retail and restaurant spaces are 74% leased.
“We have been an investor in the development of these Norwalk properties since 2014, and we are happy to add The Waypointe to our portfolio,” said Eric Scheffler, managing principal of Invictus Real Estate. “This acquisition is part of our business plan to acquire institutional quality, transit-oriented multi-housing properties, concentrated in key growth markets.”
The JLL Capital Markets team representing the borrower was led by Managing Director Scott Aiese, Senior Director Peter Rotchford, Vice President Alex Staikos and Analyst Brendan Collins.
“The Waypointe is a multi-housing property offering easy access to New York City,” said JLL’s Aiese. “The property is a highly attractive destination in the current environment, when increasing numbers of renters are seeking high-end amenities, abundant outdoor space, flexible commuting options and a dynamic community with restaurants and retail.”
“Properties like The Waypointe, with Class-A amenities and an ideal location are rare,” added Rotchford. “The property will benefit from the growing number of renters seeking alternatives to densely populated urban areas and a better work-life balance.”
The property consists of two buildings with community amenities including two parking garages allowing 1,027 spaces for residents, a fitness center and an outdoor heated, salt-water pool. The complex is currently home to popular restaurants and retail options such as Barcelona Wine Bar, Colony Grill, and a JP Morgan Chase bank.
While Gov. Hochul vowed to provide funding to adequately finance MTA projects, at press time no firm plans have been released.
A well-known business leader, Weale was perhaps best known for co-founding Country Bank in Carmel and later serving as President and CEO of the Putnam County Economic Development Corp. for 13 years.
Existing-home sales in the Northeast in June withdrew 2.1% from May to an annual rate of 470,000, a decline of 6% from June 2023.
One requirement of the law mandating the use of written contracts for compensation will impact NYS brokers significantly.
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