MIDDLETOWN, CONN. — Chozick Realty has arranged the sale of Wilcox Apartments, located at 305 S. Main St. in Middletown. Up Realty acquired the property from Hamilton Point Wilcox Investors for $7 million, or $86,420 per unit. The 81-unit property features 11 different floor plans, including flats, lofts and townhome-style apartments. Rick Chozick and Steve Pappas of Chozick Realty represented the seller and procured the buyer in the transaction.
GREENWICH, CONN. — Houlihan-Parnes Realtors has arranged a $3.2 million first mortgage for a retail and office building located at 79 E. Putnam Ave. in Greenwich. Christie Houlihan of Houhlian-Parnes secured the financing for the undisclosed borrower. The non-recourse loan has a fixed interest rate for seven years. The 20,000-square-foot building was fully leased at the time of financing.
STAMFORD, CONN. — Paredim Partners has acquired Parallel 41 Apartments, a multifamily property located in Stamford, for $33.3 million. The property was nearly 100 percent occupied at the time of acquisition. The property features 124 apartments, a fitness center, lounge and roof deck. The buyer plans to implement a renovation and rebranding program for the property, which was built in 2012. The name of the seller was not released.
DANBURY, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Hillcroft at Danbury, an apartment community located at 10 Clapboard Ridge Road in Danbury. Timberline Real Estate Ventures purchased the 192-unit property from Par Hillcroft for $32.2 million, or just under $168,000 per unit. Completed in 2014, the property features a community room, pool, playground, clubhouse and fitness center. Apartment floor plans feature dining areas and private balconies or patios, with select units offering open living/dining and kitchen floor plans.
EAST HAVEN, CONN. — O,R&L Commercial has arranged a long-term lease for 26,460 square feet of retail space at Foxhaven Plaza, located on Foxon Road in East Haven. Flippin Out, dba Rockin’ Jump Trampoline Park, will open a location at the shopping center in early February. Rich Guralnick of O,R&L Commercial represented the landlord, Foxhaven Plaza LLC, while David Gorback of Colonial Properties represented the tenant in the deal.
EAST HAVEN, CONN. — KeyBank Real Estate Capital has provided $22.5 million in Fannie Mae refinancing for East Farm Village, a multifamily property located in East Haven. The 240-unit property operates under a Section 8 Housing Assistance Payments contract and provides affordable housing units for low- to moderate-income families. Situated on 7.6 acres, the property features a community room, fitness center, solarium, library, playground, laundry facilities, elevator, on-site security and 24-hour maintenance. Erik Storz and Al Clemente of KeyBank arranged the financing for the undisclosed borrower.
AVON, CONN. — Lancaster Pollard has arranged six separate refinancing loans totaling $40.7 million for Apple Rehab, a skilled nursing provider based in Avon, a suburb of Hartford, Conn. The facilities refinanced are The Clipper Home in Westerly, R.I.; T.A. Coccomo Memorial in Meriden, Conn.; Hewitt Health & Rehabilitation Center in Shelton, Conn.; Plainville Health Care Center in Plainville, Conn.; Apple Rehab Colchester in Colchester, Conn.; and Waterbury Extended Care Facility in Watertown, Conn. The facilities total 517 skilled nursing beds. Aaron Becker led the Lancaster Pollard team in arranging the six FHA-insured loans. Each loan has a 30-year term and fixed interest rate. The refinancing will allow Apple Rehab to lower its debt service and increase its replacement reserves.
NORWICH, CONN. — Griffin-American Healthcare REIT III has acquired a two-building medical office portfolio in Norwich for $15.6 million. Totaling 56,265 square feet, the portfolio includes Wawecus Medical Center and a building located at 105 Wawecus St. Yale Cardiovascular, Eastern Connecticut Endoscopy, Connecticut GI and Norwich Ophthalmology occupy the portfolio. Lisa Menin of Jacobson Properties and John LaBella of RE/MAX Right Choice brokered the transaction. The name of the seller was not released.
STAMFORD, CONN. — J. Philip Commercial Group Brokerage has arranged the sale of an industrial building located at 184 Selleck St. in Stamford. Dr. Philip Putter of Spot On Veterinary acquired the building from Tom Anderson and John Savage of Hathaway, Reiser & Raymond for $2.3 million. The buyer will use the 16,000-square-foot building for his Spot On Veterinary practice. Fritz Chery of J. Philip Commercial represented the seller and buyer in the deal.
PLAINFIELD, CONN. — Tomasso Group has completed the disposition of Medical Arts Center at The Hartford Healthcare Cancer Institute, located at 201 N. Mountain Road in Plainfield. A publicly traded REIT acquired the property for $30.2 million. At the time of sale, the 72,022-square-foot property was 95 percent leased to Hartford Healthcare, Orthopedic Associates of Hartford and a variety of Hartford Healthcare-employed physicians. Ben Appel, Phil Mahler, Evan Kovac and Doug Rodio of HFF represented the seller in the transaction. Tunxis Management Co., an affiliate of Tomasso Group, will continue to manage the property.
