Axiom Capital Corporation has arranged a $1,600,000 permanent loan for the refinance of a multifamily property in New Haven, CT. The non-recourse loan was for 5 years at a fixed rate. The loan also offered a 5-year extension option.
The subject property is a 65-unit, 12 building apartment complex. The property was constructed in 1982 with an extensive renovation in 2001. The units are mostly townhouse style. There are also eight flat style units. The units have either three or four bedrooms and either 1.5 or 2.0 bathrooms. The buildings are masonry and wood frame construction. Mechanical items include individual forced warm air, gas-fired furnaces. In addition, the units have stoves and refrigerators. Project amenities at the subject include washer/dryer hook-ups, separate entrances, private basements, fenced yards and a playground.
The property is located less than a mile from downtown New Haven, making it a great location for anyone who works within the city limits. The apartment complex is “Very Walkable”, with a Walk Score of 70 and is located minutes away from the West River Memorial Park and the Barnard Nature Center.