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CRE Veteran Urges Connecticut to Accept $2B Sale-Leaseback Offer

CRE veteran Greg Kraut, who also serves on Westport, CT’s legislative body, is urging the state of Connecticut and its capital city, Hartford, to embrace a proposed $2-billion sale-leaseback of state-owned and occupied property. Bloomberg News reported last week that the proposal came from Chicago-based Oak Street Capital.

“This will specifically prevent any further tax on our residents, improve our credit rating, lower our borrowing cost, adequately fund our pensions and position Connecticut for growth,” said Kraut, formerly with Avison Young and now with developer K Property Group. “This is a smart measure for desperate times—our federal government, Fortune 100 companies and other states have been proactively and frequently completing these transactions for the last 20 years.”

Kraut cited the state of Arizona, which closed a budget gap with a $3.2-billion SLB. He told Bloomberg that he had no financial stake in Oak Street’s plan.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Sale/Acquisition