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Springfield Apartments Receives $5.75M In Financing

Apr 19, 2011 | Reprints | Unlock Link | Print

Park Edge Apartments in Springfield has received $5.75 million in permanent, fixed-rate financing.

Mike Riccio, senior managing director, and Susan Larkin, vice president, in CB Richard Ellis’ capital markets Hartford group, secured the financing on behalf of Park Edge-Springfield LLC.

The 10-year fixed rate mortgage, featuring a 25-year amortization schedule, was provided by Liberty Bank of Middletown, Conn., according to a statement.

The 93-unit complex was originally built in 1962 on approximately 4.47 acres and has undergone numerous renovations and upgrades over the years. The property is managed by Konover Residential Corp., a division of The Simon Konover Co.

Commercial & Industrial