Property Overview: 411 West Putnam Avenue is a 110,000 sf office building located in Greenwich, CT, one of the country’s most affluent and supply constrained markets. The property is over 92% leased to excellent credit tenants across an array of industries, including fashion, asset management, and private equity.
Investment Overview: Acram Group purchased the property due to its competitive position in the marketplace and the unusually strong duration, diversity and credit of the in-place leases. The attractive going-in cap rate combined with leasing upside and market liquidity provides for strong in-place yields. along with the potential for outsized total returns.
Address:
411 West Putnam Avenue
Greenwich, CT
Property:
110,000 sf Office Building
Acquisition Date:
June 2016
Strategy:
Core-plus
Status:
Unrealized
