41 Hubbard Hill Road, Danielson
Virginia Vinci and Neil Riley of H. Pearce Commercial Real Estate recently brokered the $670,000 sale of the apartment property at 41 Hubbard Hill Road in Danielson.
H. Pearce had the exclusive listing, and Vinci and Riley were the listing agents. The seller was Hubbard Hill Road LLC and the buyer in the transaction was Donna Olsen, who was represented by Steve Pappas of Chozick Realty. The closing date was Sept. 30.
The property, an investment property known as Deer Run, consists of 12 two-bedroom townhouse apartments in two buildings on 6.7 acres of land.
H. Pearce Commercial Real Estate, which specializes in Connecticut’s central, south-central and Shoreline markets, operates offices in North Haven and Rocky Hill.
De Visscher Relocates
The firm de Visscher & Co., which is comprised of financial advisors, investment bankers and a private equity firm for family-owned companies, has relocated its Greenwich headquarters to Two Greenwich Office Park. Albert B. Ashforth-Corporate Real Estate Brokerage represented de Visscher & Co in successfully expanding its offices to 4,500 square feet under a seven-year lease.
“De Visscher & Co. strives to be the premier independent financial advisor, investment banking and private equity firm serving business-owning families and closely held businesses worldwide,” said François de Visscher, company president. “We are delighted with our new offices, which will allow us to expand our consulting, investment banking and private equity activities along the lines of our newly formed Business Growth Alliance.”
“We are pleased to have worked with de Visscher & Co. in securing very special offices in an office park that is home to numerous financial firms,” said George Bagley, senior vice president of Albert B. Ashforth Inc. Bagley specializes in tenant representations and investment sales. William Durkin of Diserio Martin O’Connor & Castigliano acted as legal counsel for de Visscher & Co.
Albert B. Ashforth Inc.-Corporate Real Estate Brokerage is a division of The Ashforth Co. It specializes in commercial sales, leasing, corporate relocations and investment properties.
Arbor Finances Deal
Uniondale, N.Y.-based Arbor Commercial Funding, a wholly owned subsidiary of Arbor Commercial Mortgage, has announced the recent funding of a $2.7 million loan under Fannie Mae’s 3MaxExpress product line to finance the acquisition of a 44-unit complex in Ashford known as Birch Hill Apartments.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.32 percent.
The loan was originated by John Edwards, director in Arbor’s full-service lending office in Boston.
“We were pleased with the opportunity to provide acquisition financing for a repeat Arbor client,” said Edwards. “The ability to rate lock early and structure a streamlined financing allowed Arbor to close consistent with the client’s expectations.”
Arbor Commercial Funding, Arbor Commercial Mortgage and Arbor Realty Trust have extensive experience in mortgage origination, servicing and securitization and have built a reputation for service, quality and flexibility. Arbor’s seasoned management team specializes in debt and equity financing for multifamily, office, retail, hotel and various other commercial real estate properties. The company offers a broad array of financing options and currently services approximately $3 billion in loans. Arbor is a rated Standard & Poor’s third-party commercial loan and special servicer.
Arbor also manages Arbor Realty Trust, a real estate investment trust formed to invest in real estate-related bridge and mezzanine loans, preferred equity investments and, in limited cases, discounted mortgage notes and other real estate-related assets. Arbor is based in Uniondale, N.Y., and has full-service lending offices throughout the United States.
