Connecticut

IPA Negotiates $24.5M Sale of Multifamily Property in Stamford, Connecticut

by Amy Works November 7, 2017

STAMFORD, CONN. — Institutional Property Advisors, a division of Marcus & Millichap, has brokered the sale of Bedford Hall Apartments, an apartment property located in downtown Stamford. TR Eastview LLC sold the property to Navarino Acquisitions LLC for $24.5 million. Located at 545 Bedford St., the six-story property features 82 apartments in a mix of one-bedroom/one-bath and two-bedroom/two-bath apartments ranging in size from 441 square feet to 1,056 square feet. Victor Nolletti and Eric Pentore of IPA represented the seller and procured the buyer in the deal.

November 7, 2017

Connecticut Industrial Northeast

Pearce Real Estate Brokers Sale of Industrial Building in North Haven, Connecticut

by Amy Works November 7, 2017

NORTH HAVEN, CONN. — Pearce Real Estate has arranged the sale of an industrial building located at 395 State St. in North Haven. Trilot 7 Enterprises acquired the 18,000-square-foot property for an undisclosed price from Funaro Realty. The buyer operates Nelson Ambulance, Access Ambulance, Connecticut Handivan, Nelcon Towing and Recovery, and The Limo Group. Trilot 7 Enterprises will renovate the property, which is situated on 2 acres. Phil Barber of Pearce Real Estate represented the seller and buyer in the deal.

November 7, 2017

Connecticut Northeast Office

RHYS Brokers $2.9M Sale of Office Building in Norwalk, Connecticut

by Amy Works November 1, 2017

NORWALK, CONN. — RHYS has arranged the sale of an office building located at 14 Westport Ave. in downtown Norwalk. Watermill Westport LLC sold the three-story Class B building to Philipos Properties for $2.9 million. Constellation Health Services occupies the 32,000-square-foot building, which was built in 1985. Christian Bangert, Cory Gubner and Alex Haendler of RHYS represented the seller, while John Zervos of DVB Commercial represented the buyer in the transaction.

November 1, 2017

Connecticut Healthcare Northeast Office

Jacobson Properties, RE/MAX Choice, Cushman & Wakefield Broker Sales of Three Medical Office Buildings in Connecticut

by Amy Works October 19, 2017

PLAINFIELD AND DANIELSON, CONN. — A national healthcare real estate company has purchased three medical office buildings in Plainfield and Danielson in two separate transactions for an undisclosed price. Two of the properties were sold by Day Kimball Healthcare as part of a sale-leaseback, while the third property was sold by PGLC LLC, a physicians group. Day Kimball Healthcare also executed a long-term lease for the third property. The three properties offer a total of 45,000 square feet. Lisa Menin of Jacobson Properties, John LaBella of RE/MAX Right Choice and Leo Jones of Cushman & Wakefield/Pyramid Brokerage Co. advised Day Kimball in the transaction.

October 19, 2017

Connecticut Northeast Office Retail

Press/Cuozzo Negotiates $3.1M Sale of Two-Building Mixed-Use Portfolio in Hamden, Connecticut

by Amy Works October 17, 2017

HAMDEN, CONN. — Press/Cuozzo Commercial Services has arranged the sale of a two-building mixed-use portfolio located at 2340-2348 Whitney Ave. in Hamden. Town Hall Center LLC sold the portfolio to a private investor for $3.1 million. Totaling 23,320 square feet, the properties were 100 percent occupied at the time of sale. The properties feature a mix of retail and office tenants. Stephen Press of Press/Cuozzo Commercial Services represented the seller in the deal.

October 17, 2017

Connecticut Healthcare Northeast Office

Jacobson Properties, RE/MAX Right Choice Broker Sale of 80,000 SF Medical Office Portfolio in Connecticut

by Amy Works October 13, 2017

TRUMBULL AND STRATFORD, CONN. — Jacobson Properties and RE/MAX Right Choice have arranged the sale of Fairfield County Medical Office Building Portfolio, a two-building medical office portfolio in Trumbull and Stratford. A private healthcare REIT acquired the portfolio for an undisclosed price. Advanced Radiology anchors the 80,000-square-foot portfolio. Additional tenants include Yale New Haven Health and Ascension Health. At the time of sale, the portfolio was 94 percent occupied. Lisa Menin of Jacobson Properties and John LaBella of RE/MAX Right Choice represented the undisclosed sellers in the deal.

October 13, 2017

Connecticut Mixed-Use Multifamily Northeast Restaurant Retail

RBH Group Acquires Vacant Commercial Building in Hartford, Connecticut, for $20M

by Amy Works October 9, 2017

HARTFORD, CONN. — RBH Group has acquired a long-vacant commercial building, located at 370 Asylum St. in Hartford, for $20 million. RBH Group plans to redevelop the building into Teachers Corner Hartford, a mixed-use space. The development will feature market-rate and affordable residential units, space for educational opportunities and cultural performances, as well as restaurant and retail components. Laurie Grasso and Douglas Hoffmann of Hunton & Williams advised in the acquisition. Teachers Corner Hartford represents the first transaction in RBH Group’s national rollout of its Teachers Village concept following the first Teachers Village project in Newark, N.J., a $150 million, 23-acre mixed-use community. Teachers Corner Hartford is a realization of RBH Group’s continued joint venture with the Goldman Sachs Urban Investment Group and its partnering with Hartford’s Community Solutions and The Prudential Social Investment Group, with funding provided by the City of Hartford and various Connecticut state agencies.

October 9, 2017

Connecticut Northeast Office

Angel Commercial Brokers $1.3M Sale of Office Building in Fairfield, Connecticut

by Amy Works October 4, 2017

FAIRFIELD, CONN. — Angel Commercial has arranged the sale of an office building located at 134 Round Hill Road in Fairfield. Round Hill Road Partners sold the property to 134 Round Hill Road LLC for $1.3 million. Situated on 0.3 acres, the freestanding building features 7,350 square feet of office space. Angel Commercial represented the seller and buyer in the deal.

October 4, 2017

Connecticut Northeast Retail

O,R&L Commercial Brokers $15.5M Sale of Regional Retail Plaza in East Lyme, Connecticut

by Amy Works October 3, 2017

EAST LYME, CONN. — O,R&L Commercial has arranged the sale of Flanders Plaza, a regional shopping center located at 9-19 Chesterfield Road in East Lyme. Developers Consolidated Realty acquired the property from GFP Flanders Plaza LLC for $15.5 million. Situated on 7.2 acres, the 60,000-square-foot property is anchored by CVS/pharmacy, Tri-Town Foods Supermarket, McDonald’s and Citizens Bank. Jay Morris of O,R&L Commercial represented the seller in the deal. Brett Eagleson of Guilford Savings Bank arranged acquisition financing for the buyer.

October 3, 2017

Connecticut Loans Multifamily Northeast Seniors Housing

KeyBank Provides $12.9M in FHA Financing for Seniors Housing Property in Connecticut

by Amy Works September 29, 2017

NEW HAVEN, CONN. — KeyBank Real Estate Capital has provided $12.9 million in FHA financing to the Jewish Federation of Greater New Haven for Tower One & Tower East, a seniors housing property in New Haven. Built in 1969 and 1981, the apartment complex features 328 age- and incomed-restricted units. Ed Foulon of Key’s Commercial Mortgage Group arranged the financing, which features a 35-year amortization schedule, through the FHA 223(f) mortgage insurance program. Loan proceeds were used to refinance existing debt. The Jewish Federation of Greater New Haven is a non-profit, faith-based, service-oriented organization that provides continuing care and affordable housing to seniors.

September 29, 2017

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