The transaction involves a multifamily portfolio consisting of 886 units that span across Groton, CT; Warwick, RI; Detroit, MI; and Fayetteville, NC. The assets are part of a refinance deal secured by the borrowers to repurpose hotel properties into multifamily residences.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $76,200,000
• Lender: Michael Edelman & Steve McGuire - M&T Realty Capital Corporation
• Landlord: Adam Feldman - GoodHomes Communities
• Broker Representatives: Robert Rieger, Jordan Saper & Eric Schwartz - Pilot Real Estate Group
• Loan Type: Refinance

The refinancing effort was coordinated between GoodHomes Communities and Pilot Real Estate Group, focusing on strategically upgrading and managing the converted properties as part of their investment strategy across multiple markets.