BRIDGEPORT, CONN. — Eastern Union has arranged a $19.6 million construction loan for the conversion of a former healthcare facility in Bridgeport, located in southern coastal Connecticut, into a 150-unit multifamily complex. The healthcare complex was originally built in 1971 on a 15-acre site at 600 Bond St. in the North Bridgeport section of the city. The facility will undergo a gut renovation into a two-story apartment building that will include a 7,069-square-foot fitness center. Motti Blau, Mendy Pfeifer and Hershy Fried of Eastern Union arranged the debt. The borrower and direct lender were not disclosed.
CHESHIRE, CONN. — Chicago-based investment firm Blue Vista Capital Management has acquired a multifamily development site in Cheshire, about 15 miles north of New Haven, that is fully approved for the construction of 300 units. The garden-style development, which is situated within the Stone Bridge Crossing master-planned community, will consist of eight three-story and one four-story building. Units will come in studio, one-, two- and three-bedroom floor plans, and amenities will include a pool, clubhouse, fitness center, coworking spaces, dog park and a guest suite. Construction is set to begin by the end of the month. A tentative completion date was not disclosed.
GREENWICH, CONN. — CBRE has negotiated the $5.1 million sale of a commercial building in Greenwich, located in southern coastal Connecticut, that consists of four apartments and two retail spaces. The building was constructed in 2016 and was fully occupied at the time of sale, with Club Pilates and Estate Treasures of Greenwich serving as the retail tenants. Jeffrey Dunne, David Gavin, Stuart MacKenzie, Travis Langer and Daniel Blumenkrantz of CBRE represented the seller, Marx Realty, in the transaction. CBRE also procured the buyer, a Connecticut-based private investor.
GREENWICH, CONN. — CBRE has arranged the $15.5 million sale of a 43,985-square-foot boutique office building in the southern coastal Connecticut city of Greenwich. Jeffrey Dunne, Steven Bardsley, Travis Langer and Daniel Blumenkrantz of CBRE represented the seller, an entity managed by Collins Capital Partners LLC, in the transaction. The team also procured the buyer, HBN 53 Forest LLC, which is managed by regional owner HB Nitkin. The building was 82 percent leased at the time of sale.
WINDSOR, CONN. — Regional investment firm WinStanley Enterprises has acquired a 1 million-square-foot industrial facility in Windsor, located north of Hartford, that is fully leased to Amazon. The sales price was $122.3 million. The facility was built on an 89.5-acre site in 2014 and features 32-foot clear heights. The seller was German investment firm Deka Immobilien.
WINDSOR, CONN. — First National Realty Partners (FNRP) has acquired Windsor Court, a 78,500-square-foot shopping center located roughly 10 miles outside Hartford. A 64,195-square-foot Stop & Shop grocery store anchors the property. Other tenants include AT&T, Windsor Court Wine, Great Clips and Edible Arrangements. Paul Penman and Johnathan Martin of Newmark represented the undisclosed seller in the transaction.
WALLINGFORD, CONN. — Locally based brokerage firm OR&L Commercial has negotiated the $3.3 million sale of a 45,320-square-foot industrial property in Wallingford, located just north of New Haven. The building, which sits on 3.6 acres and features four loading docks, was roughly 45 percent leased at the time of sale to a single tenant. Frank Hird of OR&L represented the seller, Founders Associates LLC, in the transaction and procured the buyer, NEC Advisors. Hird is also representing the new ownership in leasing the available space.
MIDDLEBURY, CONN. — Watchmaker Timex Group USA has sold its 84,886-square-foot corporate headquarters complex in Middlebury, Conn., for $7.5 million. Chris O’Hara of Coldwell Banker Commercial represented Timex Group in the sale to a partnership between Drubner Equities Florida LLC and Atlantic Management. The site spans 93 acres, and the new ownership plans to redevelop the complex into a 720,000-square-foot industrial park.
ROCKY HILL, CONN. — Vessel Technologies, a New York City-based provider of modular and prefabricated housing, will develop a 96-unit rental project in Rocky Hill, a southern suburb of Hartford. The property will be developed at a vacant site at 125 Henkel Way. The majority of the units will have one-bedroom floor plans to accompany several residences with two-bedroom floor plans. Fabrication will commence in September, and the first move-ins are scheduled for late 2024.
MANCHESTER, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Charles Drive, a 67-unit multifamily property in Manchester, located in Hartford County. Built on 10 acres in 1969, Charles Drive comprises 11 two-story buildings that house two-bedroom, townhouse-style apartments. Residences feature individual washers and dryers, fireplaces, and private patios/decks. Victor Nolletti, Eric Pentore and Wes Klockner of IPA represented the seller, FPA Multifamily, in the transaction and procured the buyer, Cue Residential LLC.