Connecticut

CBRE Arranges $17.7M Sale of Connecticut Multifamily Property

by Amy Works March 30, 2015

BROOKFIELD, CONN. — CBRE Group has brokered the sale of Towne Brooke Commons, a multifamily property located in Brookfield. The Silverman Group purchased the 102-unit property for $17.7 million from Harbor Group International. Built in 2009, the property features open floor plans with high ceilings, spacious kitchens, walk-in closets and full-size washers/dryers. Community amenities include a clubroom, fitness center, outdoor pool, business center and heated parking. Jeffrey Dunne, Gene Pride and Ivelin Spasov of CBRE’s Institutional Properties group represented the seller in the transaction.

March 30, 2015

Connecticut Northeast Office

Highville Charter School Buys 108,000 SF Office Building for $5.8M in New Haven

by Amy Works March 25, 2015

NEW HAVEN, CONN. — Hamden, Conn.-based Highville Charter School has acquired an office building located at 1 Science Park in New Haven. AT&T sold the 108,000-square-foot property for $5.8 million. Highville plans to convert the property’s open layout into classrooms to meet its expanding needs. Alan Fischer of Fischer Real Estate Inc. represented the buyer, while Cushman & Wakefield represented the seller in the deal.

March 25, 2015

Connecticut Loans Multifamily Northeast

Colliers Secures $3.9M Loan for Connecticut Multifamily Property

by Amy Works March 23, 2015

HARTFORD, CONN. — Colliers International has secured a $3.9 million loan for Colonial Court Apartments in Hartford. The non-recourse loan features a 75 percent loan-to-cost ratio with a rate of 3.75 percent. Kris Wood, John Banas and Alex Hails of Colliers secured the financing for the undisclosed repeat borrower.

March 23, 2015

Connecticut Industrial Northeast

HK Group Brokers $57.7M Sale of 825,000 SF Warehouse Center in Connecticut

by Amy Works March 20, 2015

NORTH HAVEN, CONN. — HK Group has brokered the sale of The North Haven Distribution Center, located at 1 N. Frontage Road in North Haven. Boston-based STAG North Haven LLC purchased the property for $57.7 million from New York-based North Haven Inc. Situated on 63.61 acres, the asset consists of two buildings, totaling 825,000 square feet. One property is a large refrigerated produce building with 71 dock height doors and one is a grocery warehouse building with 108 dock height doors. Matthew Keefe and Ricardo Cordido of HK Group were the sole brokers in the transaction.

March 20, 2015

Connecticut Northeast Retail

The Beach House Buys 4,413 SF Commercial Property for $2.95M in Connecticut

by Amy Works March 20, 2015

NORWALK, CONN. — The Beach House LLC has acquired a two-story building located at 370 Westport Ave. in Norwalk. 370 Westport Avenue LLC sold the property for $2.95 million, or $668 per square foot. Bankwell Financial Group (NASDAQ: BWFG) occupies the 4,413-square-foot property, which is situated on a 0.35-acre lot. Franco Fellah of HK Group brokered the transaction. Steven Siegelaub of Berkowitz, Trager & Trager provided legal services for the seller, while Steven Baron served as legal counsel for the buyer in the 1031 exchange.

March 20, 2015

Connecticut Multifamily Northeast

IPA Arranges $115.5M Sale of 323-Unit Multifamily Property in Connecticut

by Amy Works March 16, 2015

STAMFORD, CONN. — Institutional Property Advisors (IPA) has brokered the sale of Avalon on Stamford Harbor, a multifamily property located in Stamford. The property sold for $115.5 million, or $357,585 per unit. Located at 150 Southfield Ave., the waterfront property features 323 residential units, a marina and 72 boat slips. Steve Witten and Victor Nolleti of IPA, a division of Marcus & Millichap, represented the buyer, TGM Anchor Point LLC, in the transaction. The seller was Harbor Financing LLC.

March 16, 2015

Connecticut Multifamily Northeast

IPA Brokers $27.8M Sale of Connecticut Multifamily Property

by Amy Works March 10, 2015

DANBURY, CONN. — Institutional Property Advisors (IPA) has brokered the sale of TGM Willow Grove at Danbury, a multifamily complex located at 101 Avalon Lake Road in Danbury. TGM Associates sold the 135-unit property for $27.8 million, or $205,550 per unit, to Beachwold Residential. Completed in 1999, the property features a mix of one- and two-bedroom units ranging in size from 885 to 1,552 square feet. Community amenities include a clubhouse with resident lounge, a fitness center, a heated resort-style outdoor swimming pool, landscaped picnic and barbeque areas and walking paths around Lake Kenosia. Steve Witten, Victor Nolletti, Adam Mancinone and Blake Barbarisi represented the seller in the transaction.

March 10, 2015

Connecticut Hospitality Northeast Retail

Colliers Brokers Sale of Hotel/Retail Property in Fairfield, Conn.

by Amy Works March 9, 2015

FAIRFIELD, CONN. — Colliers has brokered the sale of a hotel/retail property located at 417 Post Road in Fairfield for an undisclosed price. The property consists of an 80-room hotel, The Fairfield Inn, and a 6,800-square-foot retail space, which is triple-net leased to The Circle Diner. The new owner, a group of local investors, plans to reposition the property. Louis Zuckerman, Michael Siegel and Enzennio Mallozzi of Colliers represented the seller, Fairfield Motor Inn Associates LLC, and procured the buyer in the deal.

March 9, 2015

Connecticut Loans Multifamily Northeast Seniors Housing

Capital One Bank Closes $52M in Refinancing for Seniors Housing Community in Connecticut

by Amy Works February 6, 2015

NORTH BRANFORD, CONN. — Capital One Bank has closed a $52 million senior secured term loan for the refinancing of Evergeen Woods, a continuing care retirement community in North Branford. The property features 227 independent living units, 22 assisted living units and 50 skilled nursing beds. The Shelter Group and affiliates of Herbert J. Sims & Co jointly own the facility. First Niagara also participated in arranging the loan.

February 6, 2015

Connecticut Industrial Northeast Office

Brady Corp. Sells 85,000 SF Industrial Facility for $4M in Connecticut

by Amy Works February 4, 2015

BRANFORD, CONN. — Brady Corp. has completed the disposition of an 85,000-square-foot light industrial/flex facility in Branford. Situated on 11.2 acres at 20 Thompson Road, the facility sold for $4 million. Brady Corp. plans to lease back 20,000 square feet of the building’s Class B office space. The Geenty Group and Cresa represented the seller, while The Geenty Group represented the undisclosed buyer in the transaction.

February 4, 2015

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