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Stonington-Village
ConnecticutDevelopmentLoansMultifamilyNortheast

JLL Arranges $41.5M Construction Loan for Multifamily Project in Stonington, Connecticut

by Taylor Williams

STONINGTON, CONN. — JLL has arranged a $41.5 million construction loan for Stonington Village, a 160-unit multifamily project in southern coastal Connecticut. Stonington Village will consist of six buildings, including a clubhouse, pool and parking facilities. Units will come in studio, one-, two- and three-bedroom floor plans, including an affordable housing component, and the development will feature approximately 10,000 square feet of ground-floor retail space. Henry Schaffer and Madeline Joyce of JLL arranged the five-year, fixed-rate loan through Liberty Bank on behalf of the locally based developer, READCO. Completion of the first phase of construction is slated for 2027.

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AcquisitionsConnecticutMultifamilyNortheast

Chozick Realty Negotiates $4.1M Sale of Webb Manor Apartments in Hartford

by Taylor Williams

HARTFORD, CONN. — Locally based brokerage firm Chozick Realty has negotiated the $4.1 million sale of Webb Manor Apartments, a 43-unit multifamily complex in Hartford. Constructed in 1951 and recently renovated, Webb Manor offers studio, one-, two- and three-bedroom units. Recent capital improvements include a new elevator, a fully repaved parking lot and comprehensive upgrades of unit interiors. Steve Pappas and Tess Cullen of Chozick Realty brokered the deal. The buyer and seller were not disclosed.

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ConnecticutLeasing ActivityNortheastOffice

Cushman & Wakefield Negotiates 12,000 SF Office Lease in Wilton, Connecticut

by Taylor Williams

WILTON, CONN. — Cushman & Wakefield has negotiated a 12,000-square-foot office lease in the southern coastal Connecticut community of Wilton. The tenant is Fairfield Chemical, and the space is located within the freshly renovated building at 187 Danbury Road. Adam Klimek and Steve Baker of Cushman & Wakefield represented the landlord, Time Equities Inc., in the lease negotiations. The representative of the tenant was not disclosed.

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AcquisitionsConnecticutMultifamilyNortheast

Chozick Realty Negotiates $8.5M Sale of Apartment Building in Meriden, Connecticut

by Taylor Williams

MERIDEN, CONN. — Locally based brokerage firm Chozick Realty has negotiated the $8.5 million sale of a 71-unit apartment building in Meriden, located roughly midway between Hartford and New Haven. The building at 32 Cook Ave. houses 10 studios, 27 one-bedroom units, 30 two-bedroom residences and four three-bedroom apartments. Unit interiors and building systems at the property, which was fully occupied at the time of sale, have also been upgraded in recent years. Steve Pappas of Chozick Realty represented the undisclosed seller in the transaction. The buyer was not disclosed.

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ConnecticutLeasing ActivityNortheastOffice

Cushman & Wakefield Negotiates 22,000 SF Office Lease in Wilton, Connecticut

by Taylor Williams

WILTON, CONN. — Cushman & Wakefield has negotiated a 22,000-square-foot office lease in the southern coastal Connecticut community of Wilton. The tenant is Strong Start Early Care and Education, and the space is located within the freshly renovated building at 187 Danbury Road. Adam Klimek and Steve Baker of Cushman & Wakefield represented the landlord, Time Equities Inc., in the lease negotiations. The representative of the tenant was not disclosed.

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The-Mark-Mansfield-Storrs-Connecticut
ConnecticutDevelopmentMultifamilyNortheastStudent Housing

Landmark, Peninsula to Develop 738-Bed Student Housing Project in Storrs, Connecticut

by Taylor Williams

STORRS, CONN. — A partnership between Georgia-based developer Landmark Properties and Miami-based private equity real estate firm Peninsula Investments will develop The Mark Mansfield, a 738-bed student housing project in Storrs, home of the University of Connecticut. The 1.5-acre site at 134 N. Eagleville Road is adjacent to campus. Information on specific floor plans and amenities was not disclosed, but The Mark Mansfield’s residences will be fully furnished residences with high-end finishes. In addition, the property will house approximately 7,000 square feet of retail space that will be occupied by Huskies Tavern, which is currently located onsite. A construction timeline was also not disclosed.

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AcquisitionsConnecticutMultifamilyNortheast

Chozick Realty Arranges $6.3M Sale of West Hartford Apartment Building

by Taylor Williams

WEST HARTFORD, CONN. — Locally based brokerage firm Chozick Realty has arranged the $6.3 million sale of a 38-unit apartment building in West Hartford. The building at 415 Prospect St. houses 16 one-bedroom units and 22 two-bedroom units. Rick Chozick of Chozick Realty represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The new ownership plans to implement capital improvements.

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AcquisitionsConnecticutNet LeaseNortheastRetailRhode Island

Kempner Properties Buys Connecticut, Rhode Island Shopping Center Portfolio for $30.8M

by Taylor Williams

WHITE PLAINS, N.Y. — Kempner Properties, an investment firm based in the New York City area, has purchased a portfolio of six shopping centers totaling 126,299 square feet in Connecticut and Rhode Island for $30.8 million. The Connecticut centers are located in Avon, Milford, Norwalk, Wallingford and Orange, while the Rhode Island center is located in Warwick. Town Fair Tire anchors the centers and accounts for 40 percent of the portfolio’s gross leasable space. Jeffrey Winokur of JH Winokur Inc. represented the seller, the estate of Town Fair Tire founder Neil Mellen, in the transaction. The portfolio was 92 percent leased at the time of sale.

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The-Link-Stamford
ConnecticutLoansNortheastOffice

Newmark Arranges $133M Loan for Refinancing of Stamford Office Building

by Taylor Williams

STAMFORD, CONN. — Newmark has arranged a $133 million loan for the refinancing of The Link, an office building located at 200 Elm St. in the southern coastal Connecticut city of Stamford’s downtown area. According to LoopNet Inc., The Link totals 588,345 square feet. The property was built in 1984 and underwent a $50 million renovation in 2023 that reimagined the lobby, modernized the elevators and upgraded the common areas. Jordan Roeschlaub, Nick Scribani and Chris Kramer of Newmark arranged the loan on behalf of the borrower, a partnership between A.M. Property Corp. and Northeast Capital Group. Deutsche Bank and Urban Standard provided the debt.

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AcquisitionsConnecticutMultifamilyNortheast

NEPCG Negotiates $8.2M Sale of Crestview Apartments in West Haven, Connecticut

by Taylor Williams

WEST HAVEN, CONN. ­— Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the $8.2 million sale of Crestview, a 63-unit apartment complex in West Haven, located in southern coastal Connecticut. According to Zillow.com, the property exclusively offers one-bedroom units, and residents also have access to a pool. Brad Balletto and Jeff Wright of NEPCG represented the Massachusetts-based seller and procured the Connecticut-based buyer, both of which requested anonymity, in the transaction.

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