NORWALK, CONN. — The Silverman Group has acquired Riverview, an apartment community located on Richards Avenue in Norwalk, for $19.5 million as part of a 1031 exchange. Built in 1991, the 92-unit community features underground garage parking and value-add opportunities to renovate units. Jeffrey Dunne, Gene Pride and Travis Langer of CBRE represented the seller, an institutional owner, in the transaction.
FAIRFIELD, CONN. — Angel Commercial has arranged the sale of a commercial office building located at 418 Meadow St. in Fairfield. Milford, Conn.-based Julian Enterprises acquired the 24,866-square-foot building from BAO Partners for $2.9 million. Situated on 1.05 acres, the building features 24,866 square feet of office space. Brett Sherman of Angel Commercial represented the seller, while Lester Fradkoff of Angel Commercial represented the buyer.
WATERBURY, CONN. — Katz Properties has acquired Mattatuck Commons, a shopping center in Waterbury, for $21.6 million. Situated on 17.72 acres along Route 69, the center features 147,241 square feet of retail space. At the time of sale, the property was 78 percent occupied by a variety of national tenants, including ShopRite, Sleepy’s, Goodwill, GameStop and Taco Bell. The name of the seller was not released.
WATERBURY, CONN. — HREC Investment Advisors and Ten-X Commercial have arranged the sale of CoCo Key Water Resort in Waterbury. JMDH Real Estate acquired the 284-guestroom hotel from T.J. Waterbury LLC for an undisclosed price. Mark von Dwingelo of HREC represented the seller in the deal.
RAYNHAM, MASS., AND MONTVILLE, CONN. — Phillips Edison Grocery Center REIT II has acquired two grocery-anchored shopping centers in Massachusetts and Connecticut. The REIT purchased Shaw’s Plaza, a 175,842-square-foot retail center in Raynham, a suburb 30 miles south of Boston. The property is occupied by national and regional tenants, including Jo-Ann Fabrics, Marshalls, CVS/pharmacy, Sovereign Bank, Dress Barn, Gamestop, Panera Bread, Bank of America, PetSmart, SuperCuts, GNC, Spring and Cardi’s Furniture. The acquisition adds the first Shaw’s grocery-anchored shopping center to the company’s portfolio. Additionally, the REIT acquired Montville Commons, a 117,916-square-foot shopping center in Montville. The property is occupied by Stop & Shop, Anytime Fitness, Subway, Sweet Frog, Sleep’s, Hair Cuttery, Gamestop, GNC, Chili’s Bar & Grill and AT&T. Terms of the sales, including the sellers’ names and acquisition prices, were not released.
MIDDLETOWN, CONN. — Cornerstone Realty Capital has arranged $2.9 million in financing for the acquisition of a mixed-use property in Middletown. The office and retail property consists of five buildings totaling 47,250 square feet. Additionally, the property features 104 parking spaces. The name of the borrower was not released.
HARTFORD, CONN. — Eastern Union Funding has arranged $4.5 million in acquisition financing on two neighboring multifamily properties in Hartford for borrower Aria Legacy Group, a privately held fully integrated real estate firm. The properties include a 70-unit building at 37 Charter Oak Place and a 10-unit building with two ground-floor retail spaces at 29 Charter Oak Ave. Joshua Novoseller and Adelle Ross of Eastern Union secured the loan through CBRE Capital Markets.
FAIRFIELD, CONN. — Fischer Real Estate Inc. has negotiated the sale of a commercial building located at 2060 Black Rock Turnpike in Fairfield. An undisclosed investor purchased the property from TPSJ LLC for $1.4 million. The 4,440-square-foot property is fully occupied by retail and medical office tenants. Alan Fischer of Fischer Real Estate represented both parties in the off-market transaction.
BLOOMFIELD, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Hawthorne at Gillette Ridge, a multifamily property located at 2 Francis Way in Bloomfield. White Eagle Property Group acquired the 246-unit asset from Bouwfonds Hawthorne LP for $52 million, or $211,000 per unit. The property was constructed on a 612-acre mixed-use campus in 2004 by a partnership between Cigna and The Bozutto Group. Victor Nolletti and Steve Witten of IPA represented the seller and procured the buyer.
COLCHESTER, CONN. — Kennedy Funding Financial (KFF) has closed a $1.6 million loan for a 16-acre development site in Colchester. The two-year, interest-only funding was provided to Settlers Greene LLC, an affiliate of J Healy Builders LLC, and will be serviced by KFF. Situated at 312 Lebanon Ave., the property, known as Settlers Greene, is approved for a mixed-use residential and commercial condominium development. When complete, the 162,000-square-foot property will feature 43 townhouse units, 20 live/work units and four apartments. Kevin Wolfer of KFF arranged the financing for the borrower.
