The joint venture of A.M. Property Group and Northeast Capital Group has obtained $133 million for the refinancing of The Link, a Class A trophy office complex in downtown Stamford, Conn. Deutsche Bank and Urban Standard provided the financing in a deal arranged by Newmark.
Comprised of two interconnected buildings located at 200 Elm St. and 695 E. Main St., The Link totals approximately 560,000 square feet. A.M. Property acquired the asset from Building and Land Technology for $235 million in December 2021, according to CommercialEdge. In 2024, Parkview Financial provided a $102.5 million bridge loan that was due to mature this December, the same source shows.
Built in 1984, The Link recently underwent $50 million in renovations to upgrade the complex and reposition it for the needs of today’s workforce. Improvements included a new lobby, modernized elevators and upgraded common areas.
The eight-story campus now has a 20,000-square-foot cafeteria and 9,000-square-foot fitness center. Other amenities include a conference center, outdoor courtyard with seating, fire pits and entertainment areas. The two buildings share a parking structure with 1,016 spaces.
Located in Stamford’s central business district, the transit-oriented property has direct access to Interstate 95 and a shuttle to the nearby Metro-North Commuter Railroad station.
Newmark Co-Head of Global Debt & Structured Finance Jordan Roeschlaub, together with Vice Chairmen Nick Scribani and Chris Kramer, led the team representing the borrower.
Leasing activity at The Link
The comprehensive renovations have resulted in significant leasing activity. Nearly 400,000 square feet of new commitments and renewals have been completed in the past two years at the campus that is currently 92 percent leased.
Indeed, the global job matching and hiring platform, agreed to lease124,180 square feet at The Link later this year, when it relocates from 177 Broad St. The space will be the company’s new global co-headquarters and house primarily sales and client success teams.
Global manufacturer Henkel signed a renewal for a reconfigured 84,046 square feet. Diageo, the London-based beverage company that moved to the site in 2021, signed an early renewal for its 57,551 square feet. RSM, a tax, assurance and consulting firm, also signed a long-term renewal for 23,944 square feet to stay at The Link. Another firm that renewed its lease was Ascot Group, a global specialty insurance company that has 23,944 square feet.
Other major tenants include Deloitte, McDonald’s and Webster Bank, which extended its lease and expanded its headquarters by 23,031 square feet for a total of 45,979 square feet in March 2022.