Senior managing director Riaz Cassum and managing director Tim Breda, along with senior real estate analyst Tony Soldi, secured a 10-year, fixed-rate loan on behalf of Taymil, which also owns eight apartment communities in the greater Hartford area. Deutsche Bank Mortgage Capital LLC provided the financing.
Huntington Commons, on close to 10 acres in Manchester, has 106 garden-style units in nine, two-story buildings. Britannia Common has 88 garden-style units and is located in Meriden. Originally built as a school in 1924, the five-story building was expanded and converted to residential in 1990. Covered parking, an indoor pool, exercise room, terrace and community room are among its features. Parkview Apartments is located on the south side of a park near the historic Downtown Bristol area and is comprised of 48 units in one four-story building.
"An acquisition loan is inherently more difficult than a straight refinance since the unexpected can change the way the investment is viewed by both the buyer and lender," says Breda. Since 1998, HFF has completed more than $86 billion in transactions in all markets and property types.
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