Two Merritt 7 Office Properties Set for Residential Conversion
CBRE completed the sale of 101 and 201 Merritt 7, two Class A office buildings totaling 511,318 square feet in Norwalk, CT on behalf of seller Merritt 7 Venture LLC. A joint venture of Saber-Hightower LLC, Granoff Real Estate & Wind River Holdings plans to convert the two buildings into M7 Lofts, a 286-unit luxury apartment community with more than 55,000 square feet of amenity space.
Vice chairman Jeffrey Dunne, first VP Eric Apfel, investment sales director Travis Langer and senior financial analyst Eric Greenberg of CBRE represented the seller and procured the purchaser. Bank OZK provided a $75.5-million senior construction loan to support the conversion of the buildings.
Built in 1980 and 1982, the two buildings sit within the broader Merritt 7 office park. Under Norwalk’s 2023 comprehensive rezoning, the site carries an as-of-right residential density of up to 564 units, but Saber-Hightower’s plan calls for 286 loft-style units.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout