News: Financial Digest

First Niagara Financial Group provides $13.3 million financing for Mill Commons LLC

First Niagara Financial Group has completed a $13.3 million construction and permanent mortgage to Mill Commons LLC. Mill Commons is an 88-unit, award-winning luxury apartment community. The Mill Commons apartments are a key part of the larger Hop Brook Development, a mixed-use community created by Landworks Development, LLC, based in Farmington. In addition to the apartment community, the Hop Brook development includes 20 luxury townhomes, office space and the five-star Millwright's Restaurant and Tavern. Mill Commons recently received several 2013 HOBI awards from the Home Builders and Remodelers Association of Connecticut, including "Community of the Year." Mill Commons is one of the first apartment communities in the state to be certified Energy Star 3.0. "The Landworks team has an outstanding reputation as a single and multi-family builder in the Farmington Valley," said Jeanneen Griffin, commercial real estate team leader for First Niagara's New England and Tri-State regions. Mill Commons' one- and two-bedroom apartments range from 900 to 1,600 s/f. All apartments have balconies, elevator access and private garages. The "Pond House" community building provides gathering space, a fitness center and deck area, while the outdoor "Village Green" has patio areas with an outdoor brownstone fireplace. Wherever possible, Landworks utilized local vendors for building materials and finishes. Approximately 500 cubic yards of stone, excavated from the construction site, was cut at Grays Bridge Farm and Earth Products in Brookfield and used to veneer the ground level exteriors. Simscroft-Echo Farms from Simsbury completed all site work; 84 Lumber provided and installed lumber, siding and roofing; Sanford & Hawley of Farmington provided trim and doors; Hartford-based Connecticut Lighting Centers supplied and installed LED lighting for interior and common spaces; and Dalene Flooring provided tile, carpet and hardwood flooring.
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Boston, MA The fall season always marks the return of IFMA Boston events, and this year is no different. Registration is now open for IFMA Boston’s FMForward Deep Dive 2024. The FMForward Deep Dive 2024 Conference will be held on November 19th at the Babson Executive Conference Center in Wellesley, Mass.
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Another reason to stay debt free in a 1031 Delaware Statutory Trust exchange - by Dwight Kay

Another reason to stay debt free in a 1031 Delaware Statutory Trust exchange - by Dwight Kay

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What’s UP with that? - by Kyle Kadish

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