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| Greenwich Place Apartments |
FLORHAM PARK, NJ – HFF announced today that it has arranged
$96 million in financing for Greenwich Place and Greenwich Oaks,
Class A multi-housing communities totaling 396 units in Greenwich, Connecticut.
Working on behalf of LCOR, HFF placed two fixed-rate loans with Allianz
Real Estate of America. A $55 million
loan was arranged for Greenwich Place and a $41 million loan was secured for
Greenwich Oaks. The properties were
previously unencumbered with debt.
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| Greenwich Oaks Apartments |
Greenwich Place and Greenwich Oaks are located two miles apart close to
Interstate 95 about 35 miles north of New York City. Greenwich Place is situated on 30 acres at 311 Putman Green.
The property consists of 266 one-, two- and three-bedroom
units that average 1,312 square feet each.
Greenwich Oaks is located on 29 acres at 219 Weaver Street and has 130
two- and three-bedroom units that average 1,850 square feet each.
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| Jon Mikula |
Community amenities
at each property include a clubhouse, heated pool and fitness center. Both properties were renovated in 2010 and
2011.
The
HFF team representing LCOR was led by senior managing director Jon Mikula
and managing director Jim Cadranell.
LCOR is a
fully-integrated real estate company specializing in property investment,
management and development with a diverse portfolio of residential, commercial,
and public/private projects.
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| Jim Cadranell |
LCOR’s
real estate operating and development business manages more than 8,300
multifamily units, 7.7 million square feet of commercial space and a
substantial development pipeline of mixed use real estate in core markets. Nationally, LCOR has developed more than
21,000 residential units and 18+ million square feet of commercial space. LCOR is principally focused in the eastern
United States, with offices in New York City, the Washington D.C. and the
Philadelphia metro areas.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
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