REBusinessOnline

Stone Harbour Capital Acquires 162,000 SF Office Building in Milford, Connecticut

MILFORD, CONN. — Connecticut-based private equity firm Stone Harbour Capital has acquired a 162,000-square-foot office building in the coastal Connecticut city of Milford. Built on 12 acres in 1988, the four-story property was formerly known as Merritt Crossing. Stone Harbour will rebrand the building as Great River Corporate Center and introduce a value-add program that will deliver an upgraded café, coffee bar, fitness center, coworking spaces and conference center, as well as dining and …

CBRE Brokers Sale of 250-Unit Avalon Shelton Multifamily Community in Shelton, Connecticut

SHELTON, CONN. — CBRE has brokered the sale of Avalon Shelton, a 250-unit multifamily community located in Shelton, a western suburb of New Haven. Built in 2013, Avalon Shelton offers one- and two-bedroom units with amenities including a fitness center, pool, resident lounge and covered structured parking with direct access to each residential floor. The property is located along the bank of the Housatonic River. Jeffrey Dunne, Gene Pride and Stuart MacKenzie of CBRE represented the owner, …

Blueprint Arranges Sale of 100-Unit Seniors Housing Community in Stratford, Connecticut

STRATFORD, CONN. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Atria Stratford, a 100-unit assisted living and memory care seniors housing community located in Stratford. Developed in 1999, the 87,000-square-foot community features 76 assisted living and 24 memory care units. A publicly traded REIT sold the property to partners of Woodbine Senior Living for an undisclosed price. Ben Firestone, Steve Thomes, Michael Segal and Alex Florea of Blueprint facilitated the

KeyBank Provides $26.7M in Financing for Affordable Housing Project in Hartford

HARTFORD, CONN. — KeyBank Community Development Lending and Investment has provided a $14 million construction loan for the Phase II redevelopment of Westbrook Village, an affordable housing community in Hartford, Connecticut. Additionally, Key Community Development Corp. has provided $12.7 million in low-income housing tax credit equity for the project. The borrowers, Pennrose and The Cloud Co., are leading a five-phase redevelopment project of Westbrook Village, a 40-acre plot near the …

Jacobson Properties Arranges Sale of 31,198 SF Medical Office Complex in Newington, Connecticut

NEWINGTON, CONN. — Jacobson Properties has arranged the $8.8 million sale of Constitution Professional Park, a 31,198-square-foot medical office complex in Newington, a southern suburb of Hartford. Hartford Hospital Eye Surgery Center anchors 55 percent of the three-building complex. Other tenants include Starling Physicians and Select Physical Therapy. Lisa Menin of Jacobson Properties represented the seller, Newington Realty, in the transaction. A national healthcare real estate investor …

Coastal States Bank Funds $13.1M Acquisition Loan for Seniors Housing Community in Stratford, Connecticut

STRATFORD, CONN. — Coastal States Bank has provided a $13.1 million acquisition loan to affiliates of Woodbine Senior Living to purchase a 100-unit licensed assisted living community in Stratford. Excess funds will be used to help bring the 88,825-square-foot property to stabilization. The name of the property was not released. Woodbine Senior Living partnered with Locust Point Capital, which provided a $5 million preferred equity

Investors Like Fairfield, Westchester Counties

With a unemployment rate of 3.9 percent, strong demographics, transportation that provides direct access to New York City and a highly skilled workforce, Westchester County is seeing steady investor interest across all major property types. We have seen significant interest from institutional investors, including pension fund advisors, insurance companies and REITs. This same buyer class has continued to underwrite increased rent growth in the more urban markets of Westchester County — …

AJH Management Acquires 242-Apartment High-Rise in Stamford, Connecticut

STAMFORD, CT. — AJH Management has acquired Infinity Harbor Point, a 242-unit high-rise apartment building in Stamford, for $90 million. Completed in 2012, the building features one- and two-bedroom floor plans with amenities including a fitness center with Peloton cycles and an outdoor area with a fire pit and barbecue grills. Jeffrey Dunne, Gene Pride, Jeremy Neuer led a CBRE team that procured AJH Management as the buyer. The CBRE team also represented the seller, an undisclosed …

O,R&L Commercial Negotiates 12,030 SF Biomed-Tech Office Lease in Branford, Connecticut

BRANFORD , CT — O,R&L Commercial has negotiated a 12,030-square-foot biomed-tech office lease for dermatology company Azitra Inc. in Branford, an eastern suburb of New Haven. Azitra researches skin conditions and diseases and develops medical treatment products. Richard Guralnick of O,R&L represented Azitra in the lease negotiations. Guralnick also represented the undisclosed

Stone Harbour to Convert Office, Retail Building in Stamford, Connecticut into 77-Unit Multifamily Property

STAMFORD, CONN. — Stone Harbour Capital will redevelop One Atlantic, a 94,000-square-foot office and retail building, into a 77-unit multifamily property in Stamford, located approximately 45 miles northeast of New York City. The community will comprise 19 studios, 40 one-bedroom apartments, 18 two-bedroom apartments and ground-floor retail space. Construction is slated for completion in 2022. Marty Reasoner of ACRES Capital Corp. provided a $33 million construction loan,which carries a term …

Conferences