CSRE Group Secures $32M Construction Loan For Farmington Hotel

The asset involved in the transaction is a hotel located at 15 Farm Springs Road in Farmington, CT, with a total of 381 keys. The loan amount secured for the construction is $32,000,000, structured as a two-year floating-rate loan.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $32,000,000
• Lender: Kriss Capital
• Lender Representative: Jody Kriss
• Landlord: CSRE Group
• Brokers: Tom Wayda & Russ Drebin - Meridian Capital Group
• Loan Type: Construction
• Loan Terms: two-year, floating-rate loan

The transaction was facilitated by brokers Tom Wayda and Russ Drebin from Meridian Capital Group, who represented the deal. The lender for this construction loan was Kriss Capital, represented by Jody Kriss, while CSRE Group served as the landlord.