Marquis on the River
Norwalk, Connecticut

Acquired at a price of $6.775 million by Property Income Advisors, Inc. during March 2015 on behalf of a Gulf-based investor, the Marquis on the River property is located in Norwalk, Connecticut, which is just 40 miles north of Manhattan.  Situated on the banks of the Norwalk River, the attractive four-story 35,000 square foot mixed-use property was constructed in 2008.  Containing eighteen luxury residential flats and one commercial unit, the property is 100% leased.  With strong interest from lenders, 10-year fixed rate, interest-only financing of 3.93% was obtained.

The investor was interested in a “best-in-class” property located within a strong submarket and one that would provide a stable and growing income stream over the long-term.  The Marquis on the River investment meets all of these objectives.

Responsibilities:  Acquisition, Financing and Asset Management