Connecticut

IPA Brokers $28.5M Sale of Multifamily Property in Connecticut

by David Cohen March 29, 2019

BEACON FALLS, CONN. — Institutional Property Advisors has arranged the $28.5 million sale of Beacon Mill Village, an eight-building, 188-unit multifamily property in Beacon Falls. Located at Two North Main St., the property was originally constructed between 1851 and 1911 as a mill. The buildings were converted to apartment units in 1988. Victor Nolletti, Eric Pentore of IPA and Was Klockner of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was also undisclosed.

March 29, 2019

Connecticut Leasing Activity Northeast Office

Cushman & Wakefield Arranges 30,000 SF Office Lease in Danbury, Connecticut

by David Cohen March 28, 2019

DANBURY, CONN. — Cushman & Wakefield has arranged a 30,000-square-foot lease for Christian-nonprofit organization Guideposts at 39 Old Ridgebury Road in Danbury. Built in 1982 as the headquarters of Union Carbide, the property consists of 700,000 square feet of office space, 400,000 square feet of residential apartments and 100,000 square feet of conference and event space. Adam Klimek, Kathleen Fazio, Meredith Siburn, Bill Montague and Brian Scruton of Cushman & Wakefield represented the landlord, Summit Development, in the transaction. Trip Hoffman of Cushman & Wakefield represented Guideposts.

March 28, 2019

Connecticut Leasing Activity Northeast Office Property Type

FujiFilm North America Signs 3,976 SF Office Lease in Connecticut

by David Cohen March 26, 2019

TRUMBULL, CONN. — FujiFilm North America Group has signed a 3,976-square-foot office lease in Trumbull. Located at 204 Spring Hill Road, the 40,705-square-foot building was built in 1990. Jon Angel of Angel Commercial represented the landlord, Trefoil Park Properties LLC, in the transaction. FujiFilm will relocate from an office in Norwalk.

March 26, 2019

Acquisitions Connecticut Loans Multifamily Northeast Seniors Housing

CoastalStates Bank Provides $6.5M Acquisition Financing for Assisted Living Community in Connecticut

by David Cohen March 25, 2019

DANBURY, CONN. — CoastalStates Bank has provided a $6.5 million senior loan for a 48-unit assisted living community in Danbury, approximately 60 miles northeast of Manhattan. The borrower is Woodbine Senior Living. The loan will be used for the acquisition and stabilization of the 42,198-square-foot facility. Woodbine Senior Living partnered with Locust Point Capital Inc. and affiliates, which provided a $3.8 million preferred equity investment.

March 25, 2019

Connecticut Leasing Activity Northeast Office

WWE Signs 415,000 SF Headquarters Lease in Stamford, Connecticut

by David Cohen March 21, 2019

STAMFORD, CONN. — Media and entertainment company WWE has signed a 415,000-square-foot office lease in Stamford. Located at 677 Washington Blvd., the three-building complex will serve as the new global headquarters for WWE. Drew Saunders, Robert Ageloff, Allison Melichar and Joe Messina of JLL represented WWE in securing the lease with property owners George Comfort & Sons and AVG Partners. Additional tenants at the 12-acre property include KPMG and Perkins Eastman.

March 21, 2019

Acquisitions Connecticut Multifamily Northeast

Northeast Private Client Group Brokers $6.6M Sale of Apartment Portfolio in Connecticut

by David Cohen March 19, 2019

EAST ROCK, CONN. — Northeast Private Client Group has brokered the $6.6 million sale of a two-building apartment portfolio in East Rock. The 33-unit portfolio consists of 420 and 431 Whitney Ave. Brad Balletto, Rich Edwards and Jeff Wright of Northeast Private Client Group represented the seller, Hadley Inc., in the transaction. The buyer was MOD Equities LLC.

March 19, 2019

Acquisitions Connecticut Multifamily Northeast

Northeast Private Client Group Brokers $6.7M Sale of Apartment Building in New Haven

by David Cohen March 18, 2019

NEW HAVEN, CONN. — Northeast Private Client Group has brokered the $6.7 million sale of Brendan Towers, a 60-unit brick apartment building in New Haven. The property is located at 457 Whalley Ave. Brad Balletto, Rich Edwards and Jeff Wright of Northeast Private Client Group represented the seller, Navarino Capital, in the transaction. The buyer was undisclosed.

March 18, 2019

Connecticut Loans Multifamily Northeast

KeyBank Provides $23M Construction Loan for Multifamily Property in Connecticut

by David Cohen March 15, 2019

STONINGTON, CONN. — KeyBank Real Estate Capital has provided a $23 million construction loan for the development of Harbor Heights Apartments, a multifamily property in Stonington. Once completed, the property will include 121 units in a four-story building. Jeff Rodman of KeyBank secured the fixed-rate financing with a 40-year amortization schedule on behalf of the undisclosed borrower.

March 15, 2019

Connecticut Loans Multifamily Northeast

Cornerstone Realty Capital Secures $4.8M Refinancing for Apartment Community in Connecticut

by David Cohen March 15, 2019

MANCHESTER, CONN. — Cornerstone Realty Capital has arranged a $4.8 million loan to refinance Manchester Green, a 72-unit apartment complex in Manchester. Located approximately nine miles east of Hartford, the property consists of four buildings with a mix of one- and two-bedroom units. All units feature hardwood floors, modern kitchen and bathroom finishes as well as basement storage. Paul Natalizio of Cornerstone secured financing on behalf of the undisclosed borrower. A local bank provided the loan.

March 15, 2019

Acquisitions Connecticut Healthcare Multifamily Northeast Seniors Housing

Angel Commercial Negotiates $2.1M Sale of Former Nursing Home in Bridgeport

by David Cohen March 14, 2019

BRIDGEPORT, CONN. — Angel Commercial has negotiated the $2.1 million sale of the former Astoria Park Nursing Home in Bridgeport. Located at 725 Park Ave., the 61,344-square-foot building was acquired by the Bridgeport Rescue Mission, which will use the property for a new community care center. Founded in 1993, the Bridgeport Rescue Mission provides food, shelter, clothing, education, job training and counseling for the urban poor of Coastal Fairfield County. Jon Angel of Angel Commercial represented the seller, Laureate Astoria LLC, in the transaction.

March 14, 2019

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