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8 HARTFORDBUSINESS.COM | NOVEMBER 11, 2024 DEAL WATCH DEAL WATCH | BUYERS & SELLERS New 42-bed rehabilitation hospital planned in Waterbury A design of the inpatient rehabilitation hospital planned in Waterbury. CONTRIBUTED IMAGE Ralph Napp, of Watertown, stopped by the site just after the sale. He said the 4.5-acre property had been in his family for more than 60 years, housing a concrete foundation busi- ness started by his father. "It's a good thing," Napp said of the sale. "It will bring jobs." In December 2021, PAM Health and Waterbury Hospital filed a joint application with the state Office of Health Strategy seeking regulatory approval for the facility. The goal, according to the application, is to provide rehabilitative services to patients leaving acute-care hospitals in western Connecticut. At the time, the project was esti- mated to cost $33 million. The plan received state approval on Aug. 9, 2023, but Waterbury Hospital subsequently backed out of the deal this past January. Weeks later, PAM Health sought permission to move ahead inde- pendently. The Office of Health By Michael Puffer mpuffer@hartfordbusiness.com A Florida-based developer has paid $1.8 million for a 4.5-acre site in Water- bury, where it plans to construct a 42-bed, 55,000-square-foot inpatient rehabilitation hospital. Catalyst Healthcare Real Estate in late October bought the site at the intersection of Reidville Drive and Harpers Ferry Road in Waterbury's East End. State officials have already signed off on an application by Pennsylva- nia-based PAM Health to operate a rehab hospital at the site. Catalyst will develop the property and lease it to PAM Health, according to a city official. "We are happy to welcome another new business, Catalyst and PAM Health, to Waterbury," said Water- bury Mayor Paul Pernerewski. "The new acute-care facility will enhance medical care for the people of Water- bury and the region. Strategically located just off I-84, not only will it be a brand-new facility offering 42 beds, but it will also provide 150 full-time and 50 part-time, good-paying jobs." The site was sold by members of the Napp family. Strategy signed off on the modified agreement in July. PAM Health said it operates a network of long-term rehab, specialty and behavioral health hospitals, wound clinics, and outpatient phys- ical therapy sites across 17 states. According to PAM Health's original application to the state Office of Health Strategy, the Waterbury facility will provide specialized, "state-of- the-art" inpatient rehabilitation care to people recovering from a wide array of injuries and illnesses, such as stroke, traumatic brain and spinal cord injuries, amputations, ortho- pedic surgery, cardiac episodes and pulmonary conditions. All rooms will be private. The facility will also have two therapy gyms, an outdoor therapy area, daily living suite, activities room and various therapy rooms. Waterbury Economic Develop- ment Director Joseph McGrath said the city has been in talks with PAM Health and Catalyst about the project since 2021. "This is not only gratifying from an economic development perspective, but it will also provide the residents of greater Waterbury with access to acute-care rehabilitative services," McGrath said. Hartford eyes demolition of former data center near Dunkin' Park for mixed-use redevelopment H artford officials are working to pull together funding for the demolition of a five-story former data center occupying 3 acres behind the city's Dunkin' Park minor league ball field. Removing the concrete bunker of a building from the city block between Trumbull and Morgan streets will allow Stamford-based RMS Cos. to include the property in an ongoing mixed-use development around Dunkin' Park. That project — known as North Crossing — aims to add about 1,000 apartments and new commercial spaces. Officials from the city and state Department of Economic and Community Development recently toured the 1968- vintage building at 150 Windsor St., with RMS Cos. CEO Randy Salvatore to get a better handle on potential demo- lition costs. The city is preparing to apply for state brown- field funding for the property in January. The former data center building at 150 Windsor St., in downtown Hartford. PHOTO | GOOGLE MAPS NEWINGTON An indoor pickleball operator, Blaze Pickle LLC, has received zoning approval to open seven courts in the former Local Market in Newington. Blaze Pickle will convert 33,000 square feet of former grocery store space, at 175 Lowrey Place, into a pickleball facility. The 9.8-acre property, owned by Lowrey Place Realty LLC of Plainview, New York, contains a commercial plaza with a total footprint of 64,000 square feet. Blaze Pickle will occupy the anchor space; the rest of the plaza contains a variety of small retail stores. Newington will be Blaze Pickle's second location. Last year, the company — led by prin- cipal Jim Burda of Glastonbury — launched its first location in a former Guilford Walmart. BRIDGEPORT A 300-unit multifamily property in Bridge- port, built by two prominent development companies, has been sold for $107.5 million. The Canfield Park at Fairfield Metro is a two-building, 332,000-square-foot complex at 215 Alfred St. It was developed and sold by Norwalk-based Spinnaker Real Estate Partners and development firm Eastpointe of Fairfield. IPA Capital Markets, a division of Marcus & Millichap, said it secured $110 million in joint venture equity and financing for the purchaser, New York-based Canfield Owner LLC. The property, which was fully completed last year, features a mix of one-, two-, and three-bedroom market-rate apartments with amenities including a pool, fitness center, community room, meeting space and music "jam room." It had an occupancy rate of 96% to 97% at the time of the sale, according to Eastpointe. WINDSOR LOCKS Sportech, a gambling company with exclu- sive rights to off-track betting in Connecticut, recently sold a 7-acre Windsor Locks prop- erty hosting its Bobby V's Restaurant and Sports Bar for $5.1 million. Bobby V's will continue at 11 Schoephoe- ster Road, near Bradley International Airport, under a lease of up to 25 years, said Sportech Chairman Richard McGuire. "We are not a real estate company; we are predominantly a sports bar and OTB operator, dedicated to providing an exceptional live game customer experience at our locations," McGuire said. He added that the sale proceeds will support future investment in Sportech's Connecticut operations. The company operates two Bobby V's Restaurants in Windsor Locks and Stamford and seven other off-track betting locations. The Windsor Locks property includes a 25,698-square-foot, 1990-vintage building. Bobby V's is the only occupant. Hart- ford-based real estate investment and development company Staypoint acquired the property in a deed recorded on Oct. 17. The sale was brokered by Jeff Kravet, senior broker with Stamford-based Kravet Realty.