HK Group Brokers $136M Sale of Multifamily Community in Connecticut

HK Group Brokers $136M Sale of Multifamily Community in Connecticut

 

Jones Street Investment Partners Lands CT Property for $137M

Multi-Housing News – by Jeffrey Steele  – Town Walk at Hamden Hills includes 764 units,108 carports and 25 storage units. The community features a playground, barbecue areas and an indoor basketball court.

Jones Street Investment Partners has acquired Town Walk at Hamden Hills, a rental community in Hamden, Ct., a New Haven suburb. The purchase price was $136.5 million.

The property was acquired from an affiliate of Baker Properties, a White Plains, N.Y. real estate developer and operator. Matthew Keefe and Ricardo E. Cordido of Westport, Ct.-based HK Group brokered the private and off-market transaction, representing Baker Properties and procuring Jones Street.

The biggest challenge to completing the Town Walk acquisition was just its size,” Patrick Sullivan, Jones Street head of investor relations, told MHN. “In a short window of time, our team had to carry out an extraordinary amount of work across all facets—investment analysis, diligence, property operations preparation and fundraising—and everyone at JSIP stepped up. Co-founders Matt Frazier and Matt Ranalli have been investing in the business, in growing the team, for precisely this sort of moment.”

IDENTIFYING VALUE

Located at 100 Town Walk Drive, Town Walk at Hamden Hills features 22 buildings. It is comprised of 764 units in a mix of one-, two- and three-bedroom floor plans from 767 to 1,405 square feet. Also offered are two recreational centers.

Apartments feature open kitchens, walk-in closets, full-size washer-dryers, balconies or patios and optional wood-burning fireplaces.

Common-area amenities include two heated swimming pools and sundecks, a tennis court, indoor basketball court, children’s playground and three landscaped barbecue areas. Also offered are 108 carports and 25 storage units for rent.

The community is located near I-95 and public transportation, Merritt Parkway, Quinnipiac University, Yale University and downtown New Haven. Residents can directly access Farmington Canal Heritage Rail Trail.

We are excited to bring Town Walk into our portfolio,” Frazier said. “It is a continuation of our vision for Jones Street’s growth, which is to acquire well-regarded communities with identified value in markets we know well. Baker Properties were an ideal transaction partner, and we are happy to have been able to work with them.”

MARKET LEADER

Added Marc Baker of Baker Properties: “We are pleased to have completed this transaction with Jones Street in a timely and efficient manner, thereby minimizing any disruption to our residents and on-site staff. Town Walk is a market-leading community, and we congratulate Jones Street on their acquisition.”

Jones Street is an owner of more than 2,800 apartment units and $500 million in assets.

The company’s properties are in Massachusetts, New York, Connecticut, Rhode Island, New Hampshire and Maine.

https://www.multihousingnews.com/post/jones-street-investment-partners-lands-ct-property-for-137m/

 

 

 

HK Group Sells 20 Bay Street, Westport, CT

Franco Fellah, Executive Vice President at HK Group, announces the sale of the medical building located at 20 Bay Street, downtown Westport, CT.

The property is located next to the Police station and the Westport Library, and is surrounded by municipal parking.

20 Bay Street has been the home of Bay Street Pediatrics, Dr. Fern Pearlman’s office, for more than 30 years, and a medical building for the last 50 years.

The two-story building has 3,473 SF of space and it sits on a 0.14 acre lot zoned RPOD – Restricted Professional Office District. It was originally built in 1923 and was renovated several times.

The sale price was $1,325,000.

Lindland, Fellah and Keefe of HK Group complete $3.25m sale

NEREJ – a team of three brokers, David Lindland, Franco Fellah and Matthew Keefe, has completed the sale of the 201 Main St. property for $3.25 million. HK Group  was the only broker involved in the transaction.

The seller was the estate of Anna Nappa.  According to ownership, they purchased the property around 1964: at different points in time it was the home of Violet Antiques and Alfred Heckman Distributors.  Eventually was occupied from 1971 and up to about two years ago, by Nappa Sales, doing general glass and screen repairs, selling windows, doors and glass.

The property contains 13 residential units and a retail store.  The new owner, Belden Place, LLC has plans to redevelop the property with 14 apartments and a retail store.  Three of the apartments will be classified as affordable.

The property features three separate buildings totaling 10,050 s/f, on 0.39 acre zoned restricted business district.

 

 

http://reader.mediawiremobile.com/NEREJ/issues/202968/viewer?page=57

 

 

Lindland, Fellah and Keefe of HK Group complete $3.25 million sale

NEREJ – The seller was the estate of Anna Nappa. According to ownership, they purchased the property around 1964: at different points in time it was the home of Violet Antiques and Alfred Heckman Distributors. Eventually was occupied from 1971 and up to about two years ago, by Nappa Sales, doing general glass and screen repairs, selling windows, doors and glass.

The property contains 13 residential units and a retail store. The new owner, Belden Place, LLC has plans to redevelop the property into a first class residential property with 14 apartments and a retail store. Three of the apartments will be classified as affordable.

The property features three separate buildings totaling 10,050 s/f, on 0.39 acre zoned restricted business district.

 

http://nerej.com/lindland-fellah-and-keefe-of-hk-group-complete-3-25-million-sale

 

 

 

 

Deal & Dealmakers – Real Estate Weekly

Franco Fellah, Executive Vice President at HK Group, announced the following leases:

• Shoe Inn, a retailer that sells upscale women shoes and accessories, leased 1,200 s/f of retail space with a full lower level at 36 Elm Street, New Caanan.

• Coastal Connecticut Counseling, a therapy support center for individuals, couples, children and families leased 3,342 s/f of office at 2960 Post Road in Southport, CT.

• Waterman-Hurst, a senior executive consulting and advisory firm leased 2,170 SF of Class A office space at 40 Danbury Road Wilton, CT.

• Bird, Bonette, Stauderman, Inc., advertising production consultants, leased 2,500 s/f of direct waterfront office at 49 Riverside Avenue Westport, CT.

• JoyRide Cycling Studio, extended their 4,207 s/f lease in Darien. They have three additional locations in Westport, Wilton and Ridgefield.

 

 

 

Real Estate Weekly – Deals & Dealmakers

Real Estate Weekly – Franco Fellah, Executive Vice President at HK Group, announced the following leases:

Shoe Inn, a retailer that sells upscale women shoes and accessories, leased 1,200 SF of retail space with a full lower level on New Canaan’s main drag at 36 Elm Street.     Shoe Inn already has eight locations in Westport CT, East Hampton NY, Livingston NJ, englewood NJ, West Hampton Beach NY, Rye Brook NY, Ridgewood NJ and Scarsdale NY

Coastal Connecticut Counseling, a therapy support center for individuals, couples, children and families leased 3,342 SF of office at 2960 Post Road in Southport, CT.

Waterman- Hurst, a senior executive consulting and advisory firm leased 2,170 SF of Class A office space at 40 Danbury Road Wilton, CT.  Bird, Bonette, Stauderman, Inc., advertising production consultants, leased 2,500 SF of direct waterfront office at 49 Riverside Avenue Westport, CT.  JoyRide Cycling Studio, extended their 4,207 SF lease in Darien. They have three additional locations in Westport, Wilton and Ridgefield.

HK Group completes the sale of 201 Main Street Westport

A team of three brokers, David Lindland, Franco Fellah and Matthew Keefe, has completed the sale of the 201 Main Street property for the price of $3,250,000.   HK Group was the only broker involved in the transaction.

The seller was the estate of Anna Nappa. According to ownership, they purchased the property around 1964: at different points in time it was the home of Violet Antiques and Alfred Heckman Distributors.  Eventually was occupied from 1971 and up to about two years ago, by Nappa Sales, doing general glass and screen repairs, selling windows, doors and glass.

The property contains 13 residential units and a retail store: the new owner, Belden Place, LLC has plans to redevelop the property into a first class residential property with 14 apartments and a retail store: three of the apartments will be classified as affordable.

The property features three separate buildings for about 10,050 SF total, situated on approximately 0.39 acres zoned Restricted Business District.

Fellah of HK Group announces multiple lease deals

Franco Fellah, Executive Vice President at HK Group, announced the following leases:

Shoe Inn, a retailer that sells upscale women shoes and accessories, leased 1,200 SF of retail space with a full lower level on New Canaan’s main drag at 36 Elm Street.  Shoe Inn already has eight locations in Westport CT, East Hampton NY, Livingston NJ, Englewood NJ, West Hampton Beach NY, Rye Brook NY, Ridgewood NJ and Scarsdale NY.

  • Coastal Connecticut Counseling, a therapy support center for individuals, couples, children and families leased 3,342 SF of office at 2960 Post Road in Southport, CT.
  • Waterman- Hurst, a senior executive consulting and advisory firm leased 2,170 SF of Class A office space at 40 Danbury Road Wilton, CT.
  • Bird, Bonette, Stauderman, Inc., advertising production consultants, leased 2,500 SF of direct waterfront office at 49 Riverside Avenue Westport, CT.
  • JoyRide Cycling Studio, extended their 4,207 SF lease in Darien. They have three additional locations in Westport, Wilton and Ridgefield.

 

Fellah of HK Group finalizes $1.835 million in sales and 6,637 s/f in leases

http://nerej.com/fellah-of-hk-group-finalizes-1-835-million-in-sales-and-6-637-s-f-in-leases

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