Washington Trust's Commercial Real Estate Group recently provided $4.3 million to Taymil Vernon Portfolio, LLC for the refinancing and capital improvements of Fox Hill Commons, a 74-unit townhouse style apartment community. Built in 1965, Fox Hill Commons is a mixed-unit apartment community featuring 24 one-bedroom and 50 two-bedroom units ranging in size from 715 to 770 s/f. Capital improvements to the property will include updates in energy efficiency and aesthetic, interior and common area updates.
Fox Hill Commons sits within a comfortable residential area located a mile south of I-84.
Taymil Partners is a multifamily real estate investment and management company based in Framingham, Mass. Taymil currently owns and manages an apartment portfolio in excess of 2,000 units comprised of properties in Conn., Maine, Mass., N.H. and R.I.
"The Vernon property is another example of Taymil Partners' reputation as one of New England's premier real estate investment firms," said Joseph MarcAurele, Washington Trust chairman, president and chief executive officer.
Washington Trust's Commercial Real Estate Group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects. Financing ranges in size from several hundred thousand dollars up to multi-million dollar projects.