The Real Deal Miami

$70M in financing for Brunetti Org.

October 26, 2010 02:15PM

The Brunetti Organization, a New Jersey-based multi-family landlord that owns and manages more than 5,000 units in New Jersey and Florida, has received $69.6 million in permanent financing for three of its apartment communities, according to CB Richard Ellis Capital Markets, which brokered the deal. The financing covers a total of 2,276 units in Brunetti’s the Marina del Mar Apartments in Sunny Isles, as well as the Brookchester Apartments in Clifton, N.J. and the Richfield Village Apartments in New Milford, N.J. The 10-year deal includes a low interest rate, 10-year amortization and an average loan-to-value ratio of 30 percent. TRD