In March 2020, Clear Mountain Capital has reached a deal with Belpointe, a public REIT, regarding the LP investment for a Class-A multifamily residential development (the “Project”) located at Storrs, Connecticut.
The Project sits outside of the University of Connecticut’s Storrs campus within 5 mins driving distance . The Project site is situated on a 60 acres formal golf course. CMC is trying to bring out a ~250 units complex with the intention to provide a true high-quality community living to the local community in Storrs. CMC is currently undergoing pre-development phase with Belpointe’s team and expects to complete the Project by Q3 2022.