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Bridgeport MXU Trio Trades to Time Equities
HFF recently arranged the $21.7-million sale of three mixed-use properties in downtown Bridgeport, CT to New York-based Time Equities Inc. An HFF team of Stephen Simonelli, Jose Cruz, Michael Oliver, Kevin O’Hearn, Steven Rutman and JB Bruno, along with Dana Brome, represented the seller, Ginsburg Development.
The portfolio comprises three recently-restored early 20th century buildings, totaling 176 apartments and approximately 100,000 square feet of high-street retail and office space. They include the City Trust Building (pictured), a one-time office property converted to 117 residential units; Arcade Mall; and Golden Hill.
“Bridgeport is well-located and has three attributes that we believe are ripe for long-term success: transportation, availability and a multi-faceted favorable economic environment,” said TEI’s Max Pastor. “We anticipate that the unique vacant spaces in our newly-acquired portfolio, both in the Arcade and City Trust tower, are canvasses for Bridgeport’s future entrepreneurs.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
