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Kriss Capital Provides $32M Construction Loan for Multifamily Conversion Project in Farmington, Connecticut

Hartford-Marriott-Farmington-Hotel

The new apartments at the site of the former Hartford Marriott Farmington Hotel will contain in-unit washers and dryers, new kitchens with stainless steel appliances and granite countertops, as well as bathrooms with integrated bathtub-showers.

FARMINGTON, CONN. — Kriss Capital, a New York-based bridge lender, has provided a $32 million construction loan for a project that will convert a vacant hotel in the Hartford suburb of Farmington into a multifamily complex. The redevelopment of the 381-room Hartford Marriott Farmington Hotel will add 225 market-rate apartments to the local supply. Units will feature studio, one-, two- and three-bedroom floor plans, and amenities will include multiple pools, a fitness center, coworking space and outdoor dining areas. Kriss Capital provided the two-year, floating-rate loan to the borrower and developer, an affiliate of New Jersey-based CSRE Group. The project will be completed in phases, with leasing for the first phase beginning in 2022. The entire project is slated for completion in 2023.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

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