Belfonti Companies Announces The Naming Of Its Cromwell, CT Development Project

"The Landon of Cromwell" is Under Construction

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Aug 12, 2020, 16:16 ET

CROMWELL, Conn., Aug. 12, 2020 /PRNewswire/ -- Michael Belfonti, CEO and founder of the Belfonti Companies in Hamden, CT announced that his Cromwell, CT development project has received its new name: the Landon of Cromwell. "The name has both English and Scottish connotations," explained Michael Belfonti. "'Landon' is a personal name of English origin that means 'long hill', and it is a variant of the Scottish 'Langdon', which also means 'long down' or 'long hill'. Our development project is situated at one of the highest points in the Cromwell area, so the name seemed appropriate," Belfonti said. "In addition, the site is located just 4 miles from the TPC River Highlands Golf Course, and the modern game of golf originated in Scotland," added Belfonti.

Not only is the Landon located near the renowned golf course which is home to the Traveler's Championship PGA Tour (https://tpc.com/riverhighlands/), but it is also situated just three miles away from the future home of a new Amazon fulfillment center. Cromwell Mayor Enzo Faienza made the announcement about the new center in June of 2020. The 400,000 square foot Amazon fulfillment center will be built at 120 County Line Drive in Cromwell. The center is expected to create hundreds of jobs and is a welcome addition to the Cromwell business community. Due to the Coronavirus pandemic shoppers have begun to rely more on the internet to purchase goods and services, and surging internet sales are one of the reasons behind Amazon's success and growth (https://www.courant.com/business/hc-biz-amazon-connecticut-warehouses-20200629-cbvjx7csjveolllvhxzinigp5a-story.html).

"The Landon is expected to deliver an excellent return on investment," said Belfonti, an experienced real estate investor and developer. "Determining the return on investment (ROI) for investment properties is one of the most important elements in assessing their overall profit-making potential," he added. As further explained by Mr. Belfonti, ROI can be calculated through several different metrics. One standard metric used is the project's cash on cash return, where the yearly free cash flow is divided into the equity investment. Another metric is the Internal Rate of Return (IRR) calculation, where the calculation is based on the initial investment, the property's cash flow throughout the years, and the net proceeds upon a sale or refinance of the asset. A third metric used in the industry is the equity multiple, which is calculated by taking the yearly cash flow of a property in addition to its proceeds at terminal year, and dividing that amount by the investor's equity investment. "Ideally, an investor can reduce his or her risk by applying more than one of the above metrics when considering any investment," said Mr. Belfonti.

About Belfonti Companies: Belfonti Companies, LLC, headquartered in Hamden, Connecticut, actively pursues real estate development and investment opportunities throughout the United States and internationally. Belfonti Companies is a family of organizations that focus on investment, development and management of real estate, thus playing a significant and multi-faceted role in the real estate market. Michael Belfonti, the company's founder, president and CEO, has always believed in acquiring real estate on the basis of its profit- making potential, and it is precisely this philosophy that has enabled Belfonti Companies, LLC to successfully own and manage millions of square feet of real estate over the years. From its modest beginnings in 1980, Belfonti Companies, LLC has grown to become a solid and highly esteemed company, successfully completing billions of dollars' worth of transactions. At the present time the group's portfolio contains a wide variety of assets, including approximately 3,000 residential apartment units and nearly one million square feet of office buildings, retail centers, and industrial parks. www.belfonti.com

Belfonti Companies, LLC
2319 Whitney Avenue, Suite 1A
Hamden, CT 06518
Phone: (203) 230-1600
Fax: (203) 281-3366

SOURCE Belfonti Companies, LLC