🔒$13.5M loan for Mansfield apts.’ next phase

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Mansfield's Meadowbrook Garden Apartments has received $13.5 million in financing from a Rhode Island lender to begin its second phase of construction for 36 more apartments.

Washington Trust, of Westerly, R.I., said the loan was to developer Uniglobe Investment LLC, whose principal is Fairfield investor Zhifeng “Jack” Yang.

The complex, located at 73 and 91 Meadowbrook Lane, is separated into two parcels.

The first phase of the project consisted of 50 new townhouse-style apartments, each with three bedrooms, an attached garage and approximately 1,500 square feet of space finished with granite countertops, stainless steel appliances and other amenities. Each of the 50 units are currently leased to UConn students.

Last February, Meadowbrook began leasing the first 50 of the planned 150 units to house students at UConn and nearby Eastern Connecticut State University in Windham's Willimantic section. They are fully leased, officials said.

The second phase will consist of 36 flat-style apartments, including 12 one-bedroom units and 24 two-bedroom units. The property will also include a center green, gazebo and walking trail.

The pricetag for a fully completed Meadowbrook Gardens is pegged at $29.5 million, about 40 percent of which will be funded under the U.S. Citizenship and Immigration Service's EB-5 initiative, officials said.

Meadowbrook is one of Connecticut's first commercial realty projects financed under the 26-year-old federal program that allows foreign nationals to earn a U.S. visa by making sizable American investments.

$450K N. Britain parcel

A 1.1-acre developable parcel in New Britain is on the market for $450,000, the listing broker says.

The site at 331-335/343-349 Farmington Ave. is in a “T” residential zone for single- and two-family dwellings that allows exceptions for specific uses such as a hospital, school, recreation facility or day care, according to Reno Properties Group LLC.

The property is adjacent to a 64-unit, mid-rise apartment building, Central Connecticut State University and other commercial, recreation and institutional amenities.

Litsky Associates brokers leases

Simsbury commercial broker Litsky Associates recently reported a series of Hartford region leases. Litsky was sole broker, except where noted.

In Southington, the Home Goods unit of retail giant TJX Cos. leased 22,000 square feet on Executive Boulevard South to erect a new home furnishings/housewares outlet adjacent to Lowe's and Target. It is due to open in the spring. Litsky was co-broker with CRS Associates and Charter Realty. The new project is a development of North Star Properties.

In Vernon, Fiesta Grill has leased 3,700 square feet at Vernon Commons, 521 Hartford Road. Boston-Vernon LLC is landlord. CT Restaurant Brokers represented Fiesta.

In Manchester, Consignment Originals has leased 6,000 square feet in the Best Buy-anchored Slater Street Plaza development at 170 Slater St. The landlord is The Brixmor Property Group.

Hartford Orthopedic Surgeons PC has leased 3,900 square feet at 257 Middle Turnpike West. Levy Properties LLC is landlord.

In Cheshire, Salsa Southwest Grill has leased 1,875 square feet at Plaza 66, Meriden-Waterbury Turnpike for a second restaurant. The landlord is Boston-Cheshire LLC.

In Bloomfield, Jong Hyun Kim has leased 2,600 square feet for a Beauty Products retail store at Amazing Plaza, 701 Park Ave. The landlord is Levy Properties LLC.

Deal Watch wants to hear from you. E-mail it, along with contact information to: gseay@HartfordBusiness.com.

Gregory Seay is the Hartford Business Journal News Editor.