Hartford Business Journal

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In July 2007, the property was sold to a limited liability company led by New York developer Gale International for $6.93 million. In 2010, Gale signed Anthem Blue Cross to a 10-year, 217,764-square-foot lease and finished the building in 2012. Gale sold the Wallingford property in August 2014 for $22.8 million to a limited liability company tied to New Jersey-based venture capital and real estate lending firm Meecorp Capital Markets. Three months later, Meecorp sold the Campus at Greenhill for $26.4 million to five limited liability compa- nies tied to Manhattan-based real estate investment firm Time Equities. The property's ownership later became complicated by a long-term ground lease that separated control of the building from the underlying land. In 2024, Wells Fargo Bank filed a foreclosure lawsuit against the Time Equities-affiliated ownership group over a loan with a balance of more than $20 million. The case led to the appointment of a receiver, Shane Mulready of RM Bradley Management Corp., who eventually oversaw the termination of the ground lease and worked with Cushman & Wakefield to market and sell the property. Mulready said the building's current tenants — engineering, architecture and construction firm Burns & McDonnell and Anthem — have previously "pitched in" to help cover capital expenses, working with property manager Holly Dupont of RM Bradley. "We worked with them and got creative on how to fund repairs to keep the lights on," Mulready said. Despite its past struggles, Mulready said the office building is well-designed, sits on attractive grounds and enjoys convenient highway access. "That is a great building," Mulready said. "It's a shame it went through this hardship. I wish more people would see it and occupy it." Bob Motley, Matt Torrance and Al Mirin of Cushman & Wakefield represented the seller in the most recent trans- action. Motley said the removal of the ground lease was a key factor in getting the property ready for new owners and a new trajectory. He has represented the prop- erty for about 15 years, and will continue as leasing broker for the new owners. Motley said he is speaking with a prospective tenant seeking a roughly $2 million fit-out — an investment earlier owners could not accommodate. "KS will invest money in the building, will improve the exterior aesthetics," Motley said. "They have a clear direc- tion in mind, and they are prepared to spend money to do that." Bob Motley Shane Mulready Developer returns with larger 669-unit housing proposal in Simsbury A developer has filed initial plans for a 669-unit housing project on the former Hartford Insurance campus in Simsbury. The Silverman Group recently submitted a wetlands permit application tied to redevelopment of the 12-acre Hartford South property at 200 Hopmeadow St. Town officials said the developer plans to pursue zoning approval under the state's 8-30g affordable-housing statute. The proposal follows the town's 2024 rejection of a smaller 432-unit plan for the site. Site plan showing the proposed 669-unit Ridge at Talcott Mountain South housing development in Simsbury. NEW BRITAIN A plan to convert the long-vacant Israel Putnam School in New Britain into housing for older residents is moving forward. The City Plan Commission in February approved a variance allowing developer Matthew Ross to convert the 30,500-square- foot building at 43 Osgood Ave. into 34 apartments for renters age 55 and older. The proposal heads to the Zoning Board of Appeals for additional approvals. Ross hopes to start the estimated $4.5 million project later this year. MANCHESTER A South Windsor developer is exploring plans for a multifamily housing project on Hillstown Road in Manchester. Trivik Builders LLC presented a concept for a roughly 60-unit apartment complex during a pre-application review with the Planning and Zoning Commission. The proposal targets three parcels totaling about 11.6 acres near the Manchester-East Hartford line. A feasibility study found the site could support five, two-story buildings with about 110 bedrooms. The developer would need zoning changes before filing a formal application. NEWINGTON A Manhattan-based multifamily investor has purchased a newly built 269-unit apartment complex in Newington for $78.15 million. Beachwold Residential acquired the three-building Millyard at Meadow Commons property on 13.3 acres at 96-100 Pane Road in a deal recorded March 5. The seller was an affiliate of Criterion Development Partners. Completed in 2025, the complex includes three wood-frame buildings and amenities such as a pool, fitness center and co-working space. The property was about 85% occupied at the time of sale. MERIDEN A 42-unit Meriden apartment building that debuted last year has sold for $9.03 million. Pennsylvania-based developer A.R. Building Co. sold the four-story Pomeroy Place Luxury Apartments at 105 Pomeroy Ave. to Pomeroy Apartments LLC, an affiliate of Lakewood, New Jersey-based investor Reliant Partners, according to a deed recorded March 2. The building opened in summer 2025. The buyer financed the purchase with an $8.62 million loan from Chicago-based OBRA Real Estate. Reliant was also one of two investors that paid $31.07 million in January for a newly completed 107-unit apartment building in downtown New Britain. NEW HAVEN A New Haven property approved for a major apartment redevelopment has sold for $2.9 million. The 44,230-square-foot building at 446A Blake St., near Southern Connecticut State University, was purchased by Roslyn, New York-based developer Konstandinos Vorillas, according to a deed recorded March 4. The 1.88-acre site is approved for a project that would convert the existing building into 36 apartments and add two new buildings with a combined 108 units.

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