HARTFORD, CONN. — Aria Legacy Group has purchased Congress Street Apartments, a 65-unit multifamily portfolio located in downtown Hartford. Redbrick Partners sold the portfolio for $3.2 million, or nearly $50,000 per unit. The portfolio comprises 11 historic multifamily townhouses with parking on Congress, Morris and Alden streets. Edward Jordan and Taylor Perun of Northeast Private Client Group represented the seller and sourced the buyer in the deal.
VERNON, CONN. — Colliers International has arranged the $13.7 million in refinancing for Vernon Gardens, a 152-unit apartment community located at 695 Talcottville Road in Vernon. John Banas and Kris Wood of Colliers secured the five-year, fixed-rate loan, which features a five-year reset, for the undisclosed borrower. Built in 1965, the 10-building property features 102 one-bedroom units, 25 two-bedroom apartments, 24 two-bedroom townhouse units and one landlord-occupied office space. At the time of financing, the property was 97 percent occupied.
BRIDGEPORT, CONN. — Brooklyn-based Spray Market has acquired an industrial facility located at 330 Pine St. in Bridgeport. As the building’s tenant, Spray Market exercised its option to purchase the 14,500-square-foot property for $1 million. The company specializes in applying and installing spray polyurethane foam. Bruce Wettenstein of Vidal/Wettenstein represented the undisclosed seller, while Bob Miller of Berkshire Hathaway HomeServices represented the tenant-buyer in the deal.
NEW HAVEN, CONN. — CCP Real Estate Partner has completed the disposition of Georgetown Apartments, a 32-unit multifamily property located at 241 Quinnipiac Ave. in New Haven. New York-based Loggerhead Investment Group acquired the community for $3.1 million. The property features 16 two-bedroom flats and 16 two-bedroom townhouse units with parking. Bradley Balletto and Mallory Chila of Northeast Private Client Group represented the seller and sourced the buyer in the transaction.
ASHFORD AND MANSFIELD, CONN. — Northeast Private Client Group has brokered the sale of a three-building, 91-unit apartment portfolio located in Ashford and Mansfield. Harvest Properties sold the portfolio to Axela Group for $5.2 million, or $57,000 per unit. The portfolio includes the 24-unit Mar-Lea Park Apartments, located at 57-69 Varga Road in Ashford, and the 34-unit Woodlawn Apartments, located at 80 Bicknell Road in Ashford. Bradley Balletto and Edward Jordan of Northeast Private Client Group represented the seller and sourced the buyer in the deal.
BERLIN, CONN. — O,R&L Commercial has facilitated the lease of 18,000 square feet of warehouse distribution and office space at 24 New Park Drive in Berlin. FSB leased the space from The Cariati Family LP. The tenant plans to use the space for its U.S. headquarters. Frank Hird of O,R&L represented the tenant, while James Neckerman of Commercial Real Estate Group represented the landlord in the lease transaction.
STAMFORD, CONN. — CBRE has arranged the sale of an office building located at 225 High Ridge Road in Stamford. TNREF III High Ridge LLC, a joint venture between Baywater Properties and True North Management Group, acquired the property from RA 225 High Ridge LLC, an entity controlled by RNY Property Trust, for $22.6 million. At the time of acquisition, the 244,104-square-foot property was 81 percent leased to a variety of tenants, including Synapse, Bank of America and Mass Mutual. Jeffrey Dunne, Steven Bardsley and Travis Langer of CBRE represented the seller in the deal.
WESTBROOK AND BRIDGEPORT, CONN. — Arbor Realty Trust has funded two loans, totaling $34.5 million, in Connecticut. The firm provided a $32.6 million for a retail property located in Westbrook. Funded under Arbor’s balance sheet bridge load program, the three-year interest-only, floating-rate loan features two one-year extension periods, allows the borrower to acquire the property and provides tenant improvement capital to execute a new 10-year lease to H&M. The name of the borrower was not released. Additionally, Arbor provided a $1.9 million acquisition loan for a 32-unit multifamily property in Bridgeport to an undisclosed borrower. Funded under the Freddie Mac small business loan product line, the 20-year loan features a fixed rate and a 30-year amortization schedule.
NEW HAVEN, CONN. — The Connection Inc. has signed a lease for 13,000 square feet of office space at 900 Chapel St. in New Haven. The private, non-profit human service and community development agency will occupy the full penthouse floor at the 142,439-square-foot office tower. Jeffrey Williams and Hollis Pugh of Colliers International Group represented the tenant, while John Keogh of Dow Condon dba Colliers International represented the landlord, PMC Property Group, in the deal.
SOUTHPORT, CONN. — Maplewood Senior Living has purchased 27 acres in Southport where it will build a 92,000-square-foot seniors housing community. Construction will begin this summer on Maplewood at Southport, a three-story, 98-unit assisted living and memory care center. Stein-Troost is the architect for the project, Landtech Engineering is the civil engineer, Milone & McBroom is the landscape architect and KBE Building Corp. of Farmington is the contractor.