Dan Bertram Of Bright Ravens Development Secures $22.7 Million Loan For Innovation Studios In Danbury

The property involved in this transaction is a multifamily asset located at 18 Old Ridgebury Road in Danbury, Connecticut. The financing transaction facilitated a loan amount of $22,700,000, specifically bridge financing meant to refinance existing debt and support the ongoing conversion of the former Crowne Plaza hotel into Innovation Studios, which will consist of 200 residential units.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $22,700,000
• Lender: Greystone
• Landlord: Dan Bertram - Bright Ravens Development
• Loan Type: Bridge

The transaction highlights Dan Bertram's involvement as the landlord through his company, Bright Ravens Development. Greystone played a significant role as the lender, providing the necessary financing to support the project's conversion efforts.