REAL ESTATE FINANCE ASSOCIATION OF CONNECTICUT - REFA … Winter 2019 newsletter... · 2020. 12. 9. · REFA-CT • One Regency Drive • Bloomfield, CT • 06002 • 860-243-3977

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REFA-CT • One Regency Drive • Bloomfield, CT • 06002 • 860-243-3977 • www.refact.org

R E A L E S T A T E F I N A N C E

A S S O C I A T I O N

O F C O N N E C T I C U T

I n s i d e th i s i s su e :

Sept: Fairfield/Westchester’s

Seaside Social

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Oct: Fairfield/Westchester’s State

of the Market

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Oct: Hartford’s Golf & Oktoberfest 4

Oct: Hartford’s Fireside Chat 5

Nov: Fairfield/Westchester’s What

Can We Expect in 2020 & Beyond?

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Dec: Fairfield/Westchester and

Hartford Roundtables

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Fairfield/Westchester’s Young

Professionals

Hartford’s Young Professionals

REFA 2019 Sponsors

Member Benefits

Sponsor Information

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9

10-11

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2019 was busy for REFA Members….and now it’s over!

September

• Fairfield/Westchester Chapter: Seaside Social at Noroton Yacht Club

October

• Fairfield/Westchester Chapter: State of the Market

• Hartford: Golf & Oktoberfest

• Hartford Chapter: Fireside Chat - Challenges and Hot Topics in CRE

November

• Fairfield/Westchester Chapter: What Can We Expect in 2020 & Beyond?

December

• Fairfield/Westchester Chapter: Roundtable with Peter Denious of CERC

• Hartford Chapter: Roundtable with David Kooris of State of CT

UPCOMING EVENTS IN 2020

January

• Fairfield/Westchester Chapter: Winter Social at Hotel Zero Degree (Jan 16)

• Hartford Chapter: Downtown UConn Hartford Tour and Winter Social at Capital

Grille (Jan 30)

February

• Fairfield/Westchester Chapter: Taste of Connecticut (Feb 6)

• Hartford Chapter: Breakfast Program with Victor Calanog of REIS (Feb 6)

March

• Fairfield/Westchester Chapter: David Lehman of DECD, State of CT (Mar 4) Member Notes 13

Member Transactions 14

News You Should Know 15 The Young Professionals Network: Fall 2019 Recap

Fairfield/Westchester Chapter

• October: Tour of 677 Washington Blvd. in Stamford with Peter Duncan of George

Comfort & Sons

Hartford Chapter

• November: Speed Networking with John Alissi, Paul LaMonica, Michael Fish &

Brian Zelman

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S E P T E M B E R

F A I R F I E L D / W E S T C H E S T E R C H A P T E R : S E A S I D E S O C I A L

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O C T O B E R

F A I R F I E L D / W E S T C H E S T E R C H A P T E R : S T A T E O F T H E M A R K E T

Jim Fagan of Cushman & Wakefield

addresses the REFA members.

Dean Shapiro of Oxford Properties

Group addresses the REFA members.

F/W Chapter President Deb Robertson

welcomes the attendees.

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O C T O B E R

H A R T F O R D C H A P T E R : G O L F & O K T O B E R F E S T

Hartford Chapter President Derek Ezovski welcomes the

REFA members.

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O C T O B E R

H A R T F O R D C H A P T E R : F I R E S I D E C H A T - C H A L L E N G E S & H O T T O P I C S I N

C O M M E R C I A L R E A L E S T A T E

(l-r) Melissa Ferrucci of CohnReznick, Mark Duclos

of Sentry Commercial, Holly Neber of AEI Consult-

ants and Moderator Brad Hutensky of Hutensky

Capital Partners.

REFA Executive Director Mark Schuman

and Moderator Brad Hutensky.

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N O V E M B E R

F A I R F I E L D / W E S T C H E S T E R C H A P T E R : W H A T C A N W E E X P E C T I N 2 0 2 0 &

B E Y O N D ?

F/W Chapter President

Deb Robertson of TD

Bank welcomes the REFA

members to the program. (l-r) Dan Thorman of Kimpton Hotels, Ste-phen Jones of LoanCore, Randy Salvatore, of RMS Companies, and Moderator: Jonathan Jaeger of LW Hospitality Advisors

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D E C E M B E R

H A R T F O R D C H A P T E R : R O U N D T A B L E W I T H D A V I D K O O R I S

David Kooris, Deputy Commissioner, Department

of Economic and Community Development, State

of Connecticut

D E C E M B E R

F A I R F I E L D / W E S T C H E S T E R C H A P T E R : R O U N D T A B L E W I T H P E T E R D E N I O U S

Peter Denious, President and CEO,

Connecticut Economic Resource Center

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F A I R F I E L D / W E S T C H E S T E R C H A P T E R ’ S Y O U N G P R O F E S S I O N A L S

O C T O B E R T O U R O F 6 7 7 W A S H I N G T O N B L V D . I N S T A M F O R D W I T H P E T E R

D U N C A N O F G E O R G E C O M F O R T & S O N S

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N O V E M B E R

H A R T F O R D C H A P T E R Y O U N G P R O F E S S I O N A L S

S P E E D N E T W O R K I N G

Paul LaMonica of Ion Bank

(far left) speaks to the

Young Professionals.

Mike Fish of M.J. Fish Insurance

(center) enjoys his time with the

Young Professionals.

Brian Zelman of Zelman

Real Estate (center) answers

a question from a Young

Professional.

John Alissi of Updike,

Kelly and Spellacy

(center) gives some

advice to the Young

Professionals.

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FOUNDING SPONSORS

Carlton Fields Jorden Burt

Cigna Realty Investors

Day Pitney LLP

Fidelity Family of Title Insurers

First American Title Insurance Company

Hart Realty Advisers, Inc.

McElroy, Deutsch, Mulvaney & Carpenter, LLP

People’s United Bank

REFA-WIDE SPONSORS

AEI Consultants

Bank of America

Brown Rudnick LLP

Carmody Torrance Sandak Hennessey LLP

CATIC

CBRE

CohnReznick LLP

Fulcrum

Guilford Savings Bank

GZA GeoEnvironmental, Inc.

H.B. Nitkin Group

Key Bank Real Estate Capital

Murtha Cullina LLP

Perkins Eastman

Pullman & Comley LLC

Robinson & Cole, LLP

Shipman & Goodwin, LLP

FAIRFIELD/WESTCHESTER CHAPTER SPONSORS

Antinozzi Associates

Building & Land Technology

Cacace Tusch & Santagata

Cohen & Wolf, P.C.

Collins Enterprises, LLC

Cushman & Wakefield

Dorf & Nelson LLP

Edgewood Capital

Empire State Realty Trust

BECOME A 2020 SPONSOR NOW AND

SEE YOUR COMPANY NAME LISTED HERE IN THE SUMMER 2020 EDITION

2 0 1 9 R E F A - C T S P O N S O R S

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FAIRFIELD/WESTCHESTER CHAPTER SPONSORS (cont’d)

First American Title NCS

First County Bank

Fuller Development

Goedecke & Co., LLC

Lincoln Property Company

M&T Bank

Marcum LLP

Marcus Partners

Merritt 7

Mountain Development Group

Newmark Knight Frank

NorthMarq Capital LLC

Nova Consulting Group

RFR Realty

RMS Companies

Shaw Contract

SL Green Realty Corp

Spinnaker Real Estate Partners

Sterling National Bank

Summer Street Advisors

The Ashforth Company

Union Savings Bank

Urstadt Biddle Properties

Webster Bank

WFL Real Estate Services

HARTFORD CHAPTER SPONSORS

Amenta Emma Architects

Barings

BlumShapiro

Elm Realty Advisors LLC

Ford & Paulekas

GHD Services

Hinckley Allen & Snyder

ION Bank

Lexington Partners LLC

M.J. Fish Insurance

MetroHartford Alliance

McCarter & English, LLP

Sentry Commercial

TD Bank N.A.

The Simon Konover Company

UBS Realty Investors, LLC

UConn Center for Real Estate

United Bank

Updike, Kelly & Spellacy, P.C.

Whittlesey & Hadley

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REFA Sponsorship

REFA-CT Sponsors serve a leadership role in supporting the organization financially as well as fostering the ex-change of real estate finance information through program and networking opportunities. As a Sponsor, organizations not only gain the benefit of REFA’s membership opportunities, but they benefit from special Sponsor networking events and increased visibility within the industry. Sponsors are recognized as lead-

ers by their peers.

Free membership and passes to regular programs

Sponsor-only dinners and special events

Company name visibility on REFA-CT website and printed materials

Direct company links from REFA-CT website

Automatic REFA-CT Fall Event Sponsorship

For more information, visit: www.refact.org/sponsor

• More than 50 specialized breakfast and lunch programs, such as The State of the Market and Capital Mar-kets. Programs are led by popular guest speakers, including REFA members

• Special networking events, including seasonal cocktail receptions, sponsor receptions, and the annual Golf Outing

• The REFA-CT Fall Kick-Off Events - considered the networking “event of the year” for Connecticut commercial real estate professionals

• An online membership directory, including an updated website list of all REFA-CT members - A Who’s Who of Commercial Real Estate Professionals

• As THE information resource for the Connecticut real estate community, REFA-CT hosts an impressive calendar of educational seminars and networking events that include a who’s who of the industry

For more information, visit: www.refact.org

Member Benefits

Through its efforts to foster the exchange of real estate finance information, REFA has earned a reputation for delivering quality programming at a more than competitive price.

Member Benefits Include:

Our Vision: To be the Premier Association of

Real Estate Finance Professionals

Sponsor Benefits Include:

http://www.refact.org/sponsor.html

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M E M B E R N O T E S

Building & Land Technologies installed one of the state’s largest rooftop solar installations at the 500,000 s/f Silicon Harbor office complex in Harbor Point in Stamford. The system is expected to gen-erate 732,4000 kWh of clean, renewable energy per year. This system will reduce the carbon foot-print of Silicon Harbor.

Colliers International/Project Management completed renovations to the Church of the Archangels in Stamford, CT. The $2.5 million project was the second phase of the construction across 10,964 s/f of the church’s facilities.

The Ashforth Co. has secured a $150 million loan from PGIM Real Estate Finance to refinance Green-wich Plaza, the 325,100 square-foot, transit-oriented office campus in Greenwich, CT. Ashforth will use part of the loan proceeds towards property renovations with the remainder going toward the redevel-opment of the new $45 million Greenwich Transportation Center. Paradigm Partners LLC purchased the Spinnaker Milford Portfolio, a collection of 10 boutique apart-ment communities with 49,000 s/f of downtown commercial and retail space in Milford, CT. The portfolio has a mix of urban retail, restaurant and professional spaces.

Cushman & Wakefield has sold the following properties: 1952 Whitney Ave., Hamden, CT, a 54,436 s/f property, for $6,250,000. 40 Richards Ave., Norwalk, CT, a 147,722 s/f property, for $15,000,000. 258 Elm St., New Canaan, CT, a 27,968 s/f property, for $6,925,000. CBRE has been retained as the exclusive advisor for the sale of: 800 Connecticut Ave (Riverpark), a 412,231 s/f property, in Norwalk, CT. Grand Street Plaza, a 217,268 s/f property in the urban center of White Plains, NY. 520 White Plains Road, a 171,888 s/f property in western Westchester County. 54 Wilton Road, a 25,779 s/f property located in Westport, CT. 2150 Post Road, a 50,880 s/f property in Fairfield, CT. 49 West Putnam Ave, a 9,739 s/f property in Greenwich, CT. 1 Waterview Drive, a 94,200 s/f property in Shelton, CT. Cushman & Wakefield is marketing: 1241 E Main Street in Stamford, CT 44 Old Ridgebury Road in Danbury, CT, and 93 Lake Avenue in Danbury, CT.

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Sean McDonnell, Lori Baker and Christopher Grundy of Avison Young

• Represented Shelbourne Global, the owner of 1000 Lafayette Blvd. in Bridgeport, on two five-year lease extensions totaling 20,500 s/f. They represented the landlord in a lease renewal for 14,500 s/f with the Southwestern CT Agency on Aging, Inc. They also negotiated an early lease extension of 6,000 s/f with TD Bank for their lobby bank on the retail level of the building.

David Block and Joseph Weaver of CBRE

• Represented the building ownership, CBRE Global Investors, in the 17,100 s/f lease with Legal & General Retirement America in Stamford Towers, 750 Washington Blvd., Stamford. Rick Rosencrans of JLL acted on behalf of Legal & Gen-eral Retirement America.

Jeff Dunne, David Gavin, Travis Langer of CBRE’s National Retail Partners and Will Pike of CBRE’s Net Lease Property Group

• Represented the owner , Midwood Investment & Development, in the sale of a 10,695 s/f CVS located at 99 Green-wich Ave., Greenwich, CT. They also procured the buyer, an institutional investor, who acquired the property for $30 million.

Jeff Dunne, Steven Bardsley, and Stuart MacKenzie of CBRE’s Institutional Properties Group

• Represented the seller, Marcus Partners, in the sale of 8 & 10 Wright Street in Westport, CT for $30.021 million. CBRE also procured the buyer, Waterway Capital, in the sale.

Jeff Dunne, Steven Bardsley, Gene Pride, Jeremy Neuer and David Gavin of CBRE’s Institutional Properties Group

• Represented the seller, Steven Wise Associates, LLC, in the sale of a 10-acre parcel at 201 High Ridge Road, Stam-ford, CT to an affiliate of National Development of Newton, MA. They plan to redevelop the property into a 150-unit independent and assisted living senior housing community to be known as Waterston on High Ridge.

Mike Tepedino, Michael Gigliotti and Scott Findlay of JLL

• Have arranged $97.5 million in financing for the development of the second phase of Atlantic Station, a mixed-use resi-dential and retail property located in downtown Stamford, CT. They worked on behalf of the developer, RXR Realty, to secure the financing.

John Cafasso, Ian Hunt and Conor LeBlanc of Colliers International

• Represented the seller, Fusco Farmington Associates, LP, in the $19.95 million sale of Pond View Corporate Center in Farmington, CT. The 236,302 s/f property is located at 74-76 Batterson Park Road.

Patrick Colwell and Louis Zuckerman of CBRE

• Represented the seller, 101 East Ridge LLC, in the sale of 4 Mountainview Terrace in Danbury, CT for $7,600,000. The property is a 64,255 s/f office building. They also procured the buyer.

• Represented the seller, Coco Management, in the sale of 269-273 Columbus Avenue in Tuckahoe, NY for $8,650,000. The property, a 22,900 s/f mixed-use property, is comprised of 15 retail tenants and 10 apartment units.

• Represented the seller, Post Road Group, in the sale of Haviland Gates, a 29-unit, seven building transit-oriented apartment townhome community located in downtown South Norwalk, CT for $14,000,000.

• Represented the seller, San Col Co., Inc., in the sale of 440 E Sandford Avenue in Mt. Vernon, NY, a multi-tenanted re-tail strip center for $8,000,000.

Penny Wickey of Saugatuck Commercial Real Estate (SCRE)

• Represented Belpointe Capital LLC in the purchase of the western portion of Main Plaza at 1991 Main Street in Sara-sota, Florida for $20 million. The purchase includes 5 of the plaza’s 8.6 acres in a designated Opportunity Zone, in-cluding the 275,000 s/f former mall and an 800 space parking garage.

M E M B E R T R A N S A C T I O N S

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N E W S Y O U S H O U L D K N O W

Elliott B. Pollack, Esq. Pullman & Comley LLC 90 State House Square

Hartford, CT 06103

2019 Connecticut revaluations are on their way

Approximately 20% of Connecticut’s 169 municipalities usually conduct general reval-

uations every five years as required by law. Due to a quirk in the schedule, 2019 re-valuations will be conducted by only 14 communities. While none of Connecticut’s large cities will be going through revaluation agony, towns such as Bloomfield, North

Haven, Stratford and Torrington will be doing so.

REFA-CT • One Regency Drive •

Bloomfield, CT • 06002 •

860-243-3977 • www.refact.org
http://www.facebook.com/RealEstateFinanceAssociationCThttp://www.linkedin.com/company/real-estate-finance-association-of-cthttps://www.instagram.com/refa.ct/https://twitter.com/CTREFA

REAL ESTATE FINANCE ASSOCIATION OF CONNECTICUT - REFA … Winter 2019 newsletter... · 2020. 12. 9. · REFA-CT • One Regency Drive • Bloomfield, CT • 06002 • 860-243-3977

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