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Deals & Dealmakers

Uniglobe scores $13.5M loan for student housing complex

Washington Trust’s Commercial Real Estate Group provided $13.5 million in financing to Uniglobe Investment, LLC, for an off-campus student-housing complex in Mansfield, CT, near the University of Connecticut campus.

Photo by Tracy O/Flickr
Photo by Tracy O/Flickr

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

The first phase consisted of 50 new townhouse-style apartments, each with three bedrooms, an attached garage and 1,500 s/f of space. Each of the 50-units are currently leased to UCONN students. The second phase of the project 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.

“Uniglobe Investment did a fantastic job of identifying both the need for student housing and a location to meet that need,” said Julia Anne M. Slom, of Washington Trust. “The project was ready to meet the incoming students last August and has been well received. ”

Uniglobe Investment, LLC is a CT limited liability company owned by Jack Yang.

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