GREENWICH, CT-Greenwich Place and Greenwich Oaks, two class A multifamily properties owned by LCOR, have received $96 in financing, according to HFF, who arranged the deal.
Working on behaf of LCOR, HFF placed two fixed-rate loans with New York City-based Allianz Real Estate of America for the 396 units. 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.
According to HFF, 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. Community amenities at each property include a clubhouse, heated pool and fitness center. Both properties were renovated in 2010 and 2011.
LCOR manages more than 8,300 multifamily units and 7.7 million square feet of commercial space. The HFF team representing LCOR was led by senior managing director Jon Mikula and managing director Jim Cadranell.
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