Regions Bank Provides $7M Construction Loan For 39-unit Multifamily Project In New Haven, CT - Abe Mann, Rosewood Realty Group Represents The Buyer And Avi Meer, Urban Haven Corp Is The Landlord

Avi Meer of Urban Haven Corp has secured a $7 million construction loan for a multifamily property located at 58 Fountain St in New Haven, CT. The property spans 45,000 square feet and consists of 39 units.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $7,000,000
• Address: 58 Fountain St, New Haven, CT
• Market: New Haven, CT
• Square Footage: 45,000
• Number of Units: 39

The loan was facilitated by Regions Bank and is a construction loan. The terms of the loan include 75% loan-to-cost construction to permanent financing, with 24 months of interest-only payments. The loan has a 10-year term with an earn-out provision upon stabilization.

Abe Mann from Rosewood Realty Group represented the buyer in this transaction. Avi Meer, as the landlord and representative of Urban Haven Corp, secured the loan from Regions Bank.