Boston & New England + New England + Finance | December 7, 2022

Broadway Elm, LLC has acquired a $35-million portfolio comprised of six midrise properties in New Haven, CT.

Greystone’s $25M Loan Supports Broadway Elm’s $35M Buy of New Haven Multifamily Collection

Broadway Elm, LLC has acquired a $35-million portfolio comprised of six midrise properties in New Haven, CT.

The 145-unit portfolio is spread across 1.17 acres with a total gross square footage of 116,763 and 74,094 in rentable area. Community amenities at the property consist of bike storage, picnic area/dog park, a small office, a rooftop lounge, study nooks, and a laundry room.

Private national commercial real estate finance company Greystone provided a $25.4-million loan for the acquisition, with the company’s Rob Meehan and Avrom Forman originating the financing.

The Greystone loan, a new private-label offering, with competitive, shorter loan terms and flexible pre-payment options, carries a 10-year term with a fixed rate and a 30-year amortization, and includes interest-only payments for five years.

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Greystone's Meehan

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.