Dealmaker: Axiom Capital Corp. Arranges $88M
Axiom Capital Corp., Clifton Park, N.Y., arranged $88.3 million in financing for retail and multifamily assets in Rhode Island and Connecticut.
Axiom structured a $62 million permanent loan to refinance a 299-unit Class A multifamily property in Simsbury, Conn. The newly constructed property includes both apartments and townhomes plus a clubhouse, pool and a walking/bike trail.
Located in Hartford County, Simsbury is 20 minutes north of Hartford, Conn. In 2015, Time magazine named it one of the best American cities to live in.
In Fairfield, Conn., Axiom secured $11 million to redevelop a recently closed Kohl’s department store into a two-tenant retail property. The asset lies within a primary retail corridor with exposure to car traffic from three different streets, Greenfield Street, Villa Avenue and Tunxis Hill Road. Interstate-95 is one mile south. Nearby retailers include Stop & Shop, Dunkin, Starbucks and People’s United Bank.
Axiom also arranged a $15.3 million permanent acquisition loan for a grocery-anchored retail plaza in Pawtucket, R.I. The property is within two miles of the currently under development Pawtucket/Central Falls Commuter Rail Station and Bus Hub. Developers expect that $47 million project will deliver next year.