Connecticut

Colliers Facilitates Sale of 103,367 SF Office Building in Stamford, Connecticut

by Amy Works October 25, 2016

STAMFORD, CONN. — Colliers International has brokered the sale of an office building located at 750 E. Main St. in Stamford. Darien, Conn.-based Forstone Capital acquired the 103,367-square-foot office property for an undisclosed sum in an off-market transaction. The 10-story building features six floors of office space and four levels of structured parking. On-site amenities include food services, a fitness center, conference facility and security. Al Gutierrez, Enzennio Mallozzi and Cynthia Foster of Colliers represented the undisclosed seller and procured the buyer in the transaction.

October 25, 2016

Connecticut Loans Multifamily Northeast

Greystone Closes $36M Refinance for Apartment Community in Windham, Connecticut

by Amy Works October 21, 2016

WINDHAM, CONN. — Greystone has provided a $36 million Fannie Mae DUS loan to refinance Colonial Townhouse Apartments in Windham. Donny Rosenberg of Greystone and Shaya Ackerman of Meridian Capital originated the loan for the borrower, Colonial BT LLC. The non-recourse loan carries a 10-year fixed term with the first three years as interest-only payments and a 30-year amortization schedule. The 444-unit property is 95.9 percent occupied.

October 21, 2016

Connecticut Northeast Retail

Rouse Properties Acquires 115,000 SF Shopping Center in Glastonbury, Connecticut

by Amy Works October 20, 2016

GLASTONBURY, CONN. — Rouse Properties has acquired The Shops at Somerset Square, a lifestyle retail center located in Glastonbury. The HB Nitkin Group sold the property for $42 million. The 115,000-square-foot center is occupied by Francesca’s, Victoria’s Secret, White House Black Market, Chinos, Talbots, Chipotle, Starbucks Coffee, Lux, Bond & Green Jewelers, Max Fish and Max Amore. Additionally, the center features office and medical space.

October 20, 2016

Connecticut Industrial Northeast

Joint Venture Acquires 152,000 SF Warehouse Property in Stamford, Connecticut

by Amy Works October 14, 2016

STAMFORD, CONN. — A joint venture between The Davis Companies and Highland Development Ventures has acquired a warehouse property, located at 300 Stillwater Ave. in Stamford, for an undisclosed price. The buyers plan to convert the two-story 152,000-square-foot building from a production studio for reality television shows into a self-storage facility. Construction is slated to begin this quarter with completion scheduled for 2018. Designed by Tao Architecture + Design, the facility will feature a leasing office, state-of-the-art security, a center drive aisle for access to units and drive-up units on sections of the property’s parking surface. The acquisition is the joint venture’s sixth self-storage facility development, including both ground-up and conversion projects.

October 14, 2016

Connecticut Northeast Retail

Lyman Real Estate Brokers Sale of 1,558 SF Retail Property in Norwich, Connecticut

by Amy Works October 13, 2016

NORWICH, CONN. — Lyman Real Estate Brokerage & Development has arranged the sale of a retail property located at 646 Boswell Ave. in Norwich. Goodlettsville, Tenn.-based Dollar General acquired the 1,558-square-foot property for an undisclosed price. The location formerly housed Seafood Etc. market. Matthew Darling of Lyman Real Estate represented the undisclosed seller, while Michael Alberico of Atlantic Retail Properties represented the buyer in the deal.

October 13, 2016

Connecticut Loans Multifamily Northeast

Greysteel Secures $3.1M in Refinancing for Multifamily Property in Milford, Connecticut

by Amy Works October 11, 2016

MILFORD, CONN. — Greysteel has arranged $3.1 million in refinancing for Spinnaker Brook, a multifamily property located at 158 Cherry St. in Milford. The 10-year, non-recourse loan features a fixed rate and three years of interest-only payments followed by a 30-year amortization schedule. The loan was provided by an agency lender under the Freddie Mac Small Balance Loan program. Anton Mattli and John Marshall Doss of Greysteel negotiated the loan for the undisclosed borrower.

October 11, 2016

Connecticut Loans Multifamily Northeast

Capital One Closes $32.5M Loan for Apartment Building in New Haven, Connecticut

by Amy Works October 6, 2016

NEW HAVEN, CONN. — Capital One has provided a $32.5 million fixed-rate loan under Fannie Mae’s near-stabilization program to Cooper Church LLC. The borrower used the funds to refinance The Union, a 137-unit apartment building in New Haven. Paul Kesicki of Capital One’s Commercial Real Estate Group originated the transaction. The 10-year loan has three years of interest-only payments followed by amortization on a 30-year schedule and 9.5 years of yield maintenance.

October 6, 2016

stonington-estates-apartments-norwich-ct

Connecticut Multifamily Northeast

Chozick Realty Brokers $6.8M Sale of 71-Unit Multifamily Property in Norwich, Conn.

by Amy Works September 30, 2016

NORWICH, CONN. — Chozick Realty Inc. has arranged the sale of Stonington Estates Apartments, located on Stonington Road in Norwich. Trion Holdings acquired the property from HPI Stonington LLC for $6.8 million, or $95,775 per unit. Constructed in 2005, the 71-unit property features two-bedroom units and a full amenity package, including tennis courts and a fitness center. Rick Chozick represented the seller and procured the buyer in the deal.

September 30, 2016

Connecticut Hospitality Maine Northeast

Elandis Completes $5M Renovation of Two Hotels in New England

by Jeff Shaw September 23, 2016

WASHINGTON, CONN., AND KENNEBUNK, MAINE — Elandis, the Americas real estate arm of the Libra Group, has completed a $5 million refurbishment of two of its hospitality assets in New England: The Mayflower Grace in Washington and the White Barn Inn in Kennebunk. Renovations at White Barn Inn included guest room and common area upgrades as well as a new cottage and deck dining spaces. The Mayflower Inn’s refurbishments included upgrades to guestrooms, dining areas and landscaping.

September 23, 2016

Connecticut Loans Northeast Office

NGKF Handles $36.25 Million Financing of 124,668 SF Office Building in Greenwich, Connecticut

by Jaime Lackey September 21, 2016

GREENWICH, CONN. — NGKF Capital Markets has arranged $36.25 million in financing for 500 West Putnam Avenue, a 124,668-square-foot Class A office building in Greenwich, for Connecticut investment group 500 WPA LLC. Jordan Roeschlaub, Daniel Fromm and Steve Sperandio of NGKF led the team that arranged and structured a floating-rate loan that provides a three-year initial term and two one-year extension options. The loan proceeds were used to fund the acquisition of the property from SL Green and execute the sponsor’s business plan for the property, which was 54 percent occupied at closing.

September 21, 2016

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