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3650 REIT Refis Connecticut Multifamily Property for $58M
3650 REIT has announced the origination of a $58 million loan to refinance Brookview Commons, a multifamily property in Danbury, Connecticut. The loan was provided through 3650’s Stable Cash Flow investment platform with a five-year term. The sponsors of the project are BRT Companies and The DiMarco Group.
“We purposefully structured 3650 to have the flexibility and consistency required to meet virtually any moment facing the market and continue deploying capital,” said Toby Cobb, 3650 REIT co-founder and managing partner. “In today’s environment, our relationship-based, high-touch approach has become even more critical as we strive to meet the needs of borrowers seeking creative financing solutions.”
Brookview Commons consists of two interconnected buildings with a total of 264 units. The loan allows for the refinancing of the asset, which is close to fully occupied. The loan arrangement was facilitated by John Harrington, Partner at HKS Real Estate Advisors.
- ◦Sale/Acquisition
