Belfonti Companies, LLC Announces The Refinance Of Woodgate Apartments In Enfield, CT

Major Renovations Scheduled to Begin Immediately

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Mar 02, 2020, 16:37 ET

ENFIELD, Conn., March 2, 2020 /PRNewswire/ -- Belfonti Companies, LLC successfully closed a new loan for the refinancing of its 208-unit multi-family apartment complex, Woodgate Apartments, located in Enfield, CT.

"Woodgate has been part of the Belfonti portfolio since 1988, and we plan to continue holding it for the long-term. This new loan will allow us to perform many upgrades to the asset," said Marc Franzman, CFO of Belfonti Companies.

The new loan was sourced by mortgage broker Epstein Canarick of Roslyn, NY (www.epsteincanarick.com). Murray Epstein, one of the firm's principals, said, "We have been sourcing loans for Mr. Belfonti for close to 30 years. He has always been able to close transactions successfully and quickly, and he is one of our most valued clients."

Hunt Companies of New York will serve as the loan servicer. "It was a pleasure working with the Belfonti team. They were very helpful in closing this loan expeditiously," said R.J. Guttroff, the Managing Director of the Hunt Companies. (www.huntcompanies.com.)

Renovations are scheduled to begin immediately.

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.

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

SOURCE Belfonti Companies, LLC