Kriss Capital Provides $32M Construction Loan for Multifamily Conversion Project in Farmington, Connecticut

by DailyBriefers
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The new apartments at the site of the former Hartford Marriott Farmington Hotel will contain in-unit washers and dryers, new kitchens with stainless steel appliances and granite countertops, as well as bathrooms with integrated bathtub-showers.

FARMINGTON, CONN. — Kriss Capital, a New York-based bridge lender, has provided a $32 million construction loan for a project that will convert a vacant hotel in the Hartford suburb of Farmington into a multifamily complex. The redevelopment of the 381-room Hartford Marriott Farmington Hotel will add 225 market-rate apartments to the local supply. Units will feature studio, one-, two- and three-bedroom floor plans, and amenities will include multiple pools, a fitness center, coworking space and outdoor dining areas. Kriss Capital provided the two-year, floating-rate loan to the borrower and developer, an affiliate of New Jersey-based CSRE Group.

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