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Red Oak Arranges $10M Bridge Loan for 51-Acre Office/Industrial Campus in Bloomfield
Red Oak Financial has completed a $10-million bridge loan for The South Campus at Gillette Ridge, a Class A multi-tenant office/industrial campus in the Hartford, CT suburb of Bloomfield.
The property consists of a 435,853-square-foot, four-story office; a 101,652-square-foot warehouse and a 40,688-square-foot flex/office on 50.8 acres.
The sponsor is set to undertake a comprehensive plan to reposition and re-brand the property, which includes taking advantage of the extensive landscaping and views of adjacent golf courses in West Hartford/Bloomfield. The sponsor plans to install a golf simulator and putting greens.
“We are confident in the long-term success of this property,” said Gary Bechtel, CEO of Red Oak said. “The planned capital expenditures to the building and common areas throughout the campus will enhance the experience of the existing tenants as well as increase the overall market appeal to prospective tenants.”
Existing amenities within the campus include a two-story parking garage, glass-enclosed four-story atrium, glass passenger elevators, waterfalls, dining options, fitness center and conference space.
- ◦Sale/Acquisition
