Beachwold Residential Secures $68.25M Loan From Truist Bank For Multifamily Acquisition In Newington

The transaction involved a multifamily asset comprising 269 units located at 98 Pane Road in Newington, CT. The property was financed with a loan amount of $68,250,000. The acquisition was handled through a five-year, fixed-rate financing arrangement with Truist Bank. Beachwold Residential LLC is the landlord associated with this property.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $68,250,000
• Address: 98 Pane Road
• Market: Newington, CT
• Lender: Truist Bank
• Landlord: Beachwold Residential
• Brokers: Mona Carlton, Thomas (Tom) Didio, Thomas E. Didio, Jr, Michael Mataras & Tyler Caricato - JLL
• Loan Type: Acquisition

JLL Capital Markets played a significant role in arranging the financing for this deal, specifically designed to facilitate the acquisition of Millyard at Meadow Commons, a luxury apartment community benefiting from a strategic financial partnership with Truist Bank.