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. 

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. 

]]>http://www.hkgrp.com/2018/08/4732/feed/0Fellah of HK Group completes $1.325 million medical bldg.  salehttp://www.hkgrp.com/2018/08/fellah-of-hk-group-completes-1-325-million-medical-bldg-sale/
http://www.hkgrp.com/2018/08/fellah-of-hk-group-completes-1-325-million-medical-bldg-sale/#respondThu, 23 Aug 2018 20:03:48 +0000http://www.hkgrp.com/?p=4730Read More »]]>NEREJ – Franco Fellah, executive vice president at HK Group, completed the $1.325 million sale of the medical building located at 20 Bay St.

The property is located next to the police station and the Westport Library, and is surrounded by municipal parking.  20 Bay St. 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 s/f of space on a 0.14 acre lot zoned restricted professional office district.  It was originally built in 1923 and was renovated several times. 

]]>http://www.hkgrp.com/2018/08/hk-group-sells-20-bay-street-westport-ct/feed/0Lindland, Fellah and Keefe of HK Group complete $3.25m salehttp://www.hkgrp.com/2018/04/lindland-fellah-and-keefe-of-hk-group-complete-3-25m-sale/
http://www.hkgrp.com/2018/04/lindland-fellah-and-keefe-of-hk-group-complete-3-25m-sale/#respondMon, 09 Apr 2018 18:22:36 +0000http://www.hkgrp.com/?p=4662Read More »]]>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://www.hkgrp.com/2018/04/lindland-fellah-and-keefe-of-hk-group-complete-3-25m-sale/feed/0Lindland, Fellah and Keefe of HK Group complete $3.25 million salehttp://www.hkgrp.com/2018/03/lindland-fellah-and-keefe-of-hk-group-complete-3-25-million-sale/
http://www.hkgrp.com/2018/03/lindland-fellah-and-keefe-of-hk-group-complete-3-25-million-sale/#respondFri, 16 Mar 2018 16:54:36 +0000http://www.hkgrp.com/?p=4649Read More »]]>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://www.hkgrp.com/2018/01/real-estate-weekly-deals-dealmakers/feed/0HK Group completes the sale of 201 Main Street Westporthttp://www.hkgrp.com/2018/01/hk-group-completes-the-sale-of-201-main-street-westport/
http://www.hkgrp.com/2018/01/hk-group-completes-the-sale-of-201-main-street-westport/#respondWed, 10 Jan 2018 15:40:29 +0000http://www.hkgrp.com/?p=4606Read More »]]>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.