MILFORD, CONN. — Wynnewood, Pennsylvania-based investment firm Merion Realty Partners has purchased Halstead Milford, a 246-unit apartment community located in southern coastal Connecticut. The total sales price was undisclosed. Virginia-based REIT AvalonBay Communities originally developed the three-story, garden-style property in 2004. Property amenities include a pool, fitness center, coworking space, game room and outdoor grilling and dining areas. Simon Butler, Biria St. John, Jeff Dunne, John McLaughlin, Eric Apfel, Stuart MacKenzie and Brian Bowler of CBRE represented the seller, an affiliate of The DSF Group, in the transaction. The team …
Connecticut
Northmarq Secures Over $37.5 Million Construction Financing for 151-Unit Development in Newington, Connecticut
by Kari Lloyd
NEWINGTON, CONN. — Northmarq has secured $37.5 million in construction financing for the development of The Pike in Newington, a southwest suburb of Hartford. The developer broke ground at the end of 2022. The project completion date was not disclosed. The capital stack included a $25 million senior construction loan with a bank, and preferred equity in the amount of $12.5 million from a real estate private equity firm. The combined senior construction loan and preferred equity represents 85 percent loan-to-cost. Financing was secured by Brad Burns, Brandon Harrington, Tyler …
Older Posts