Blue Back Square Sold to Connecticut Real Estate Development Company

WEST HARTFORD, Conn., May 25, 2021 / PRNewswire / – Charter Realty & Development Corp. is pleased to announce the recent acquisition of Blue Back Square, one of the most sought-after travel destinations in the region Greater Hartford Region. Located on 65 Memorial Road, West HartfordThe property was purchased by Starwood Retail Partners, which has owned the mixed-use development since 2013. The new owner group ‘Blue Back Capital Partners, LLC’ is a joint venture between Charter Realty & Development Corp. (Charter Realty) and Rialto Capital.

Charter Realty & Development

“As a ConnecticutOur team is based on local companies and is fully committed to the long-term success of the property. We look forward to working with the West Hartford Community and customers alike to bring in new offers and improve the overall experience on Blue Back Square, “he said Paul Brandes, a founding director of Charter Realty. “Blue Back is a really unique opportunity for us. We’re all-in.”

Blue Back Square General Manager Robyn Rifkin “Blue Back Square is an exciting opportunity for the team to re-energize one of the region’s already most sought-after shopping and dining destinations.”

Robyn has been General Manager of Blue Back Square since 2014 and will continue to join the charter team in this role.

Blue Back Square was developed as a public-private partnership between the city West Hartford and his private partner. The partnership continues to this day in the form of the West Hartford Special Services District.

mayor Shari G. Cantor commented: “We were very impressed with Charter’s enthusiasm for this acquisition and the team’s past experience. We look forward to working closely with Charter to best position Blue Back for continued success.”

Charter Realty is a Greenwich Resident full-service commercial property development company specializing in retail and mixed-use properties. Charter Realty currently owns, operates, or leases more than 80 properties in the United States, including nearly 50 properties in the United States Connecticut. Charter Realty’s experience includes operating and leasing a wide variety of upscale retail and mixed use projects, including Bedford Square ((Westport), Storrs Center – UCONN ((Storrs) and was last brought in to manage and redevelop the Evergreen Walk (South Windsor). As the owner of Blue Back Square, Charter Realty will handle the full spectrum of day-to-day operational and administrative services for the property, including ongoing development, leasing and marketing efforts.

Via Blue Back Square

Blue Back Square is a unique shopping, living, dining and entertainment destination. Anchored by Crate & Barrel, Cinepolis Cinemas, West Elm, and Barnes & Noble, the property also has several upscale restaurants and retailers such as the Cheesecake Factory, Flemings Prime Steakhouse, and World of Beer.

Centrally located in the coveted city West Hartford and regionally accessible to everyone Central ConnecticutPeople can shop, eat, work, play and live in Blue Back Square. Visit www.bluebacksquare.com for more information.

About Charter Realty & Development Corp.

Charter Realty & Development Corp. is a full-service company for the acquisition, development and leasing of commercial real estate founded in 1993 by Paul Brandes and Dan Zelson. Charter specializes in acquiring retail and mixed-use goods for urban and suburban infills. Charter’s vertically integrated platform identifies value and growth opportunities for all property product types. Please visit www.charterrealty.com for more information.

About Rialto Capital

Rialto Capital Management is a fully integrated real estate investment, asset management and operating company. Rialto was founded in 2007 and has been involved in investing billions of dollars in equity in real estate assets since its inception. The company invests and manages assets across the capital structure in real estate, loans and stocks. More information is available at www.rialtocapital.com.

For further information please contact:

Kate Terricciano

Image Marketing on behalf of Charter Realty & Development Corp.

[email protected]

860-919-1020

Related images

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Blue back square

SOURCE Charter Realty & Development