Clearwater House
Address: 2187 Atlantic Avenue, Stamford, CT
Date Acquired: September 1991
Date Sold: July 2007
IRR: 21%
Equity Multiple: 21.35x
Description: Clearview acquired this 106,000 rentable square foot Class A office building located on the waterfront in the South End of Stamford in the fall of 1991 from a lender that had foreclosed on the property. Built in 1987, Clearwater House was an empty, environmentally challenged glass building thought to be a “White Elephant” by the local real estate community. After some capital improvements, the property was 100% occupied as of 1993 and remained so until it was finally sold to the developer of Harbor Point in 2007. Through recapitalizations and the eventual sale, Clearview provided investors with a phenomenal IRR north of 20% over sixteen years and an incredible equity return of twenty-two times their initial investment.

Investor Login | 300 First Stamford Place, 2nd Floor | Stamford, CT 06902 | Phone 203.326.2811 | Fax 203.977.2164 | Email