Bank of America building.
www.courant.com/business/real-estate/hc-main-street-apartment-financing-20140328,0,5669302.story
The $85 million financing package for the largest downtown Hartford apartment project -- the conversion of the former Bank of America tower -- closed this afternoon.
Construction of 286 rental units in the 26-story tower on Main Street is expected to begin soon.
"The deal is closed," Michael W. Freimuth, executive director of the Capital Region Development Authority, said. "The financing is in place. Construction will begin soon."
The financing includes the $7 million sale of the building to developer Bruce Becker by its current owner, Grunberg Realty, according to Jay W. Wamester, a broker at commercial real estate firm Colliers International in Hartford. Colliers represented the seller and procured the buyer.
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