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.
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.