ORLANDO, FL—TD Bank reports it has provided Quebec-based The Heafy Group $17.3 million in financing to support its purchase of 177 residential units at the Village Center of Baldwin Park.
The financing carries a 30-year amortization and was completed by TD Bank’s Regional Commercial Real Estate Group. The 177 apartment units are located on the second floor of buildings in the mixed-use Village Center of Baldwin Park complex, which features retail and commercial space on the ground floors.
LeClair Group will manage the apartment units, called Majestic at Baldwin Park. The Heafey Group, a private real estate investment and management company headquartered in Gatineau, Quebec, Canada, has operations in Miami. The group’s current portfolio is valued in excess of $600 million dollars, and is primarily composed of apartments, condominiums and hotels.
“It isn’t easy to get financing for mixed-use projects in today’s market, and TD Bank was here for us,” says Pierre Heafey, principal of The Heafey Group. “We deal with TD in Canada and have a 25-year relationship there and were happy to work with TD in the U.S. With these types of deals, you need access to money and you need it fast, and our loan officer did a great job of making sure it went through on time.”
“TD Bank continues to invest in commercial real estate and multi-housing projects that enhance communities and create access to quality housing,” says Tony Lott, senior relationship manager, regional commercial real estate at TD Bank. “We look forward to working with The Heafey Group as they bring high-quality apartment living to Orlando.”