Newmark has arranged $115.6 million in financing on behalf of the sponsor to refinance The Cove at Gateway Commons and Sound at Gateway Commons located in East Lyme, Connecticut. Newmark Capital Markets Strategies Managing Director Avi Kozlowski secured the financing through Freddie Mac.
“We were pleased to help our client secure 10-year fixed-rate financing that supports their long-term objectives, and we appreciate the trust they placed in Newmark to execute on their behalf,” said Kozlowski.
Located along Connecticut’s southeastern shoreline, The Cove at Gateway Commons and Sound at Gateway Commons offer residents access to the region’s coastal amenities, employment centers and transportation infrastructure. The properties are situated near Interstate 95 and Interstate 395, providing connectivity throughout Connecticut and to major regional markets including New Haven, Connecticut, Providence and Boston. Residents also benefit from proximity to area beaches, retail destinations, dining and outdoor recreation.
