TRUMBULL. Construction of Trumbull Loft Apartments will be moving forward with the financing secured through CBRE Capital Markets’ debt & structured finance of $39.6 million l
The property is situated on an 8.57-acre site just off of Exit 49S of the Merritt Parkway (Rte. 15)
and consists of three garden-style, 4-story elevator-served apartment buildings and five free-standing carports with 39 spaces
The CBRE Hartford team of Michael Riccio, Susan Larkin, and Anna Pfau secured the floating rate loan on behalf of the New Jersey-based developer Continental Properties. Financing was provided by Washington Trust Company and Peoples Bank of Holyoke.
The property will contain 202 one and two-bedroom market units in five, 4-story residential buildings and one, 3-story residential building. The property will also include an 6,400 square foot clubhouse.
The developer says “outdoor amenities will include a pool and deck with cabanas, a fire pit, lounge areas and an outdoor pergola. Sustainable features at the property will include electric car-charging stations, Energy Star appliances, controlled irrigation systems, and much more. “
. The property offers community amenities including a fire pit with lounge area, picnic areas with built-in grilling areas and a putting green. One of the buildings is also home to a clubhouse containing a resident lounge with flat screen TV, coffee bar, cyber café, fitness center and an onsite management office.
Construction is expected to begin this spring.