The constructing beforehand traded for nearly double its present sale worth.
Northpath Investments has acquired Constructing Two at 175 Scott Swamp Street, a 100,539-square-foot workplace property in Farmington, Conn. Harvest Equities offered the asset for $13.5 million, in keeping with public information.
Jll Capital Markets secured the $8.8 million, five-year, non-recourse acquisition mortgage offered by bankESB. The constructing beforehand traded in 2005, when the present vendor picked it up for $25.3 million, CommercialEdge information exhibits.
The asset is a part of a 16.5-acre workplace campus encompassing two buildings, with the properties having separate house owners. The Tomasso Group is listed because the proprietor of Constructing One, which opened in 2008.
Medical insurance supplier ConnectiCare is the only tenant of Constructing Two and has been working on the property since its completion in 2002. The controlled-access constructing affords onsite facilities, corresponding to a cafeteria and 530 parking spots.
A JLL staff led by Senior Managing Director Michael Klein, Director Max Custer and Analyst Salvatore Buzzerio negotiated the mortgage transaction on behalf of the borrower. In August, Custer was additionally concerned in securing a $31 million refinancing mortgage for a 210,000-square-foot workplace constructing in Union, N.J. JLL labored on behalf of the owner, an affiliate of Cali Futures LLC.