10:38 AM EDT, 05/13/2024 (MT Newswires) -- Franklin BSP Realty Trust ( FBRT ) said Monday it closed a $125 million floating-rate senior loan facilitating the refinancing of a 414-unit multifamily property in downtown Stamford, Connecticut.

The loan has an initial term of three years, with two one-year extension options, the company said.

The loan's sponsor, Quarterra Multifamily, is a subsidiary of homebuilder Lennar ( LEN ) , Franklin BSP said.

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