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3650 REIT provides loan to refinance 264-unit Connecticut multifamily property
3650 REIT, a nationwide commercial real estate lender, has originated a $58 million loan to refinance Brookview Commons, a 264-unit multifamily property located in Danbury, Conn.
Brookview Commons encompasses two five-story buildings which are connected by a pedestrian bridge. They include Brookview East, completed in 2007 and consisting of 115 units; and Brookview West, developed in 2022 and consisting of 149 units. Brookview West offers a wide range of amenities, including a 24-hour fitness center, resident clubroom, EV charging stations, covered parking, dog park/dog wash, and an outdoor pool and terrace. Both properties contain a mixture of studio, one- and two-bedroom units.
Originated from 3650’s stable cash flow investment platform, the loan carries a term of five years and is provided to sponsors BRT Companies and The DiMarco Group. BRT Companies, a real estate investment firm specializing in rental housing and serving the greater Danbury area, and The DiMarc