F.D. Rich Company has secured $91 million in construction financing for a new multifamily project in downtown Stamford, Connecticut. The development, known as Coastline at 130 Broad Street, will feature 198 residential units and is expected to be completed by the summer of 2027.
The financing package includes a $59 million senior loan from Bank OZK and $32 million in mezzanine financing from the Real Estate Credits Solutions platform of 3650 Capital. No broker was reported for the deal.
The planned 13-story building will primarily offer market-rate apartments, with 17 units designated as affordable housing. The property will also include 4,500 square feet of ground-floor retail space and a three-level parking garage. Amenities for residents are set to include a pool, outdoor lounge, dog run and spa, fitness center, children’s play area, event space, conference rooms, and a bocce ball court.
Jonathan Roth, co-founder of 3650 Capital, cited limited new supply in the area along with population growth and strong household incomes as factors supporting the project’s prospects.
“Downtown Stamford offers a favorable environment for this property to capture demand from young professionals and commuters seeking quality rental housing, superior amenities and transit connectivity,” said F.D. Rich president Thomas Rich.
F.D. Rich Company has been led by Thomas Rich since 1996 and has developed several notable properties in Fairfield County. These include a Courtyard by Marriott hotel with 115 rooms; Park Tower Stamford condominium (formerly Trump Parc Stamford) with 170 units across 35 stories; Summer House Stamford apartments with 228 units over 22 stories; and Harbourside SoNo rental complex with 129 units.
Bank OZK is an active lender within the real estate sector. Earlier this year it provided $182 million in financing for Gasworx—a large mixed-use development project spanning approximately 50 acres—in Tampa’s Ybor City neighborhood.
