HFF arranged $96 million in financing on behalf of LCOR for Greenwich Place and Greenwich Oaks, two class-A multi-housing communities in Greenwich, Conn. totaling 396 units.
Allianz Real Estate of America provided funding for the loans, which included a $55 million fixed-rate loan for Greenwich Place and a $41 million fixed-rate loan for Greenwich Oaks. The properties were previously unencumbered by debt.
Greenwich Place and Greenwich Oaks are located two miles apart. Greenwich Place contains 266 one-, two- and three-bedroom units averaging 1,312 sq. ft. in size. Greenwich Oaks contains 130 two- and three-bedroom units averaging 1,850 sq. ft. each. Amenities at both properties include a clubhouse, heated pool and fitness center. Both complexes were renovated in recent years.
Jon Mikula and Jim Cadranell, of HFF, negotiated this transaction.