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Northwest Bank Lends $28M on East Hartford Industrial Buy
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Commercial Observer
Seyon Group has sealed $28.1 million of acquisition financing to purchase an 11-building industrial campus in East Hartford, Conn., Commercial Observer has learned.
Northwest Bank supplied the loan for Seyon Group’s $37 million acquisition of the 428,000-square-foot Prestige Park property.
The 11 warehouses that comprise the industrial campus were previously owned by investors tied to entities Barrington TIC, Market Street TIC II, ACG Prestige Acquisitions and JR Prestige Spe, according to East Hartford town documents.
Situated on nearly 29 acres six miles east of Downtown Hartford, Prestige Park features a mix of single-tenant, mid-bay and shallow-bay industrial buildings.
The industrial campus is around 94 percent leased to manufacturing, research and development, warehouse and distribution tenants, according to Newmark.