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| Brett D. Forman |
The project, Noroton Heights, is the
first redevelopment in the Town of Darien, Connecticut in many years.
The transaction closed on Nov. 15. Noroton Heights & Company, LLC is the
borrower and affiliated parties own and operate the adjacent Palmer’s Market.
Trez Forman President and CEO Brett D. Forman and Russ
Holland from the firm’s Atlanta office Managing Director arranged the
financing.
Located on four acres at 264 and
346 Heights Road, Noroton Heights
is planned to include retail, restaurants, 59 apartments and an underground
parking garage.
 |
| Russ Holland |
Four existing buildings
constructed in 1960 are set to be demolished to make way for the construction
of three brand-new buildings. Construction of a skybridge connecting two of the buildings
is also planned.
Darien is primarily a commuter
town, as many residents work in nearby New York City. The Noroton Heights metro north rail station
connects to the redevelopment site.
“We are thrilled to expand our tri-state portfolio with this new loan,”
said Forman. “Noroton Heights is a
project that fills a void for new apartments, retail and restaurants to service
the many commuters who rely on the rail station. We continue to aggressively
monitor the region for similar opportunities.”
CONTACTS:
Todd Templin
Executive
Vice President
BoardroomPR
O 954-370-8999
C 954-290-0810
Bank of
America Plaza | 1776 N Pine Island Rd
Suite
320 | Fort Lauderdale, FL 33322
Eric Kalis
954-370-8999
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