Brookchester Apartments
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 Brookchester Apartments in Clifton, N.J., the Richfield Village Apartments in New Milford, N.J. and the Marina del Mar Apartments in Sunny Isles, Fla. The 10-year deal includes a low interest rate, 10-year amortization and an average loan-to-value ration of 30 percent. TRD