4 Hartford Business Journal•March30,2015 www.HartfordBusiness.com
w w w. H a r t f o r d B u s i n e s s . c o m
(860) 236-9998
E D i t o R i A l
Greg Bordonaro
Editor, ext. 139
gbordonaro@HartfordBusiness.com
Brad Kane Managing Editor, ext. 127
bkane@HartfordBusiness.com
Gregory Seay News Editor, ext. 144
gseay@HartfordBusiness.com
Matt Pilon Digital Producer/Reporter, ext. 143
mpilon@HartfordBusiness.com
John Stearns Staff Writer, ext. 145
jstearns@HartfordBusiness.com
Roger Magnus Research Director
Heide Martin Research Assistant
B U S i N E S S
Joe Zwiebel President and Publisher, ext. 132
jzwiebel@HartfordBusiness.com
Donna Collins Associate Publisher, ext. 121
dcollins@HartfordBusiness.com
Jessica Baker Office Manager, ext. 122
jbaker@HartfordBusiness.com
Catherine Gruszka Operations Manager, ext. 137
cgruszka@HartfordBusiness.com
Amy Orsini Events Manager, ext. 134
aorsini@HartfordBusiness.com
David Hartley Sr. Accounts Manager, ext. 130
dhartley@HartfordBusiness.com
William C. Lambot Sr. Accounts Manager, ext. 128
wlambot@HartfordBusiness.com
Brittney Michaud Accounts Manager, ext. 133
bmichaud@HartfordBusiness.com
Ryan Casey Exhibit Sales Associate, ext. 120
rcasey@hartfordbusiness.com
Kim Vautour Human Resource Director
Raki Zwiebel Credit and Collections Manager
Valerie Clark Accounting Assistant/Office Manager
Gail Lebert Chair, Executive Advisory Board
P R o D U C t i o N
Lynn Mika
Production Director/Marketing Coordinator, ext. 140
lmika@HartfordBusiness.com
Christopher Wallace Art Director, ext. 147
cwallace@HartfordBusiness.com
Vlada Shelkova Graphic Artist, ext. 148
vshelkova@HartfordBusiness.com
Peter Stanton CEO
pstanton@nebusinessmedia.com
Joseph Zwiebel President & Group Publisher, ext. 132
jzwiebel@HartfordBusiness.com
Mary Rogers Chief Financial Officer
mrogers@nebusinessmedia.com
Subscriptions:
Annual subscriptions are $79.95. To subscribe, visit
HartfordBusiness.com, email hartfordbusiness@cambey-
west.com, or call (845) 267-3008.
Advertising:
For advertising information, please call (860) 236-9998.
Please address all correspondence to: Hartford Business
Journal, 15 Lewis Street, Suite 200, Hart ford CT 06103.
News Department:
If you have a news item: Call us at (860) 236-9998,
fax us at (860) 570-2493, or e-mail us at
editorial@HartfordBusiness.com
Hartford Business Journal accepts no responsibility
for unsolicited manuscripts or materials and in general
does not return them to the sender.
Hartford Business Journal (ISSN 1083-5245) is
published weekly, 53 x per year including three special
issues — one in September, one in November and one
in December — by New England Business Media LLC,
15 Lewis Street, Suite 200, Hartford CT 06103.
Periodicals postage paid at Hartford, CT.
Tel: (860) 236-9998 • Fax (860) 570-2493
Copyright 2015. All rights reserved.
Postmaster: Please send address changes to:
Hartford Business Journal
P.O. Box 330, Congers, NY 10920-9894
www.copyright.com
older assets.
One of those was the former Cloverleaf
Mall in Richmond, Va., once that city's and
state's biggest enclosed malls when it opened
in 1972. But Cloverleaf's cachet faded over
the years, a victim of newer, bigger suburban
malls that sprouted throughout the region
and changed shopper habits.
Hutensky's investors bought and razed the
mall, erecting a smaller retail center on the site.
Undeveloped adjoining acreage on the site has
been sold to others who plan a 600-unit apart-
ment complex and other amenities.
"This whole area has really transformed,''
Hutensky said, pointing to "before" and
"after" photos of the Cloverleaf site.
Hutensky Capital's third fund already
has invested in a Chicago retail property
and another with "good bones'' in suburban
Cleveland, Ohio. Two more deals are in the
works, with the fund on track to buy and
invest in a total of 10 properties over the next
three years, Hutensky said.
The plan for both, he said, is to use Huten-
sky Group's retail development and manage-
ment expertise and dollar to make improve-
ments to the properties' common areas and
tenant spaces to boost occupancies.
Hamilton Point, meanwhile, hunts for apart-
ment properties that it can acquire for as far
below the prevailing $120,000 per unit replace-
ment cost for multi-family housing, Sharp said.
For illustration, he said paying $80,000
per unit for an apartment complex means it
is more likely to generate a profitable return,
rather than a loss, for his investors.
"Investors like that thesis,'' Sharp said.
Hamilton Point investors in 2014 sold their
stake in 129 apartments and adjoining office-
retail space in The Bushnell On The Park in
downtown Hartford.
Proceeds from Talcott Realty's fourth
investment fund will buy between 18 and 25
office properties at average $30 million apiece,
Mihalek said.
One major difference in how Talcott pro-
ceeds in this current investment cycle is that
it "will be much more focused on our specific
target markets,'' he said.
Connecticut's investment fund promoters
say the cataclysmic drop in commercial and
residential values during the Great Reces-
sion has generated noticeable changes in the
way investors view and approach real estate.
Operators say they even welcome the changes.
"They dig very deep into who the sponsor
is, which may not have been the case 10 years
ago,'' Sharp said.
Hutensky agrees.
"It's still a time when people are still ask-
ing questions, even people who know you
well,'' he said. "I think it's to their credit. I
want them to.'' n
Realty Investors
2 0 1 5
n o m i nat i on s
f o r 2 0 1 5
a r e o p e n !
Visit HartfordBusiness.com
and click on "OUR EVENTS"
to fill out an online
nomination form
today!
n o m i n a t e h i m o r h e r f o r t h e
H a rt f o rd B u s i n e s s J o u r n a l ' s 2 0 1 5
4 0 U n d e r f o r t y a w a r d s !
We're looking for candidates who share a commitment to business
growth, personal excellence and deep community involvement.
The people who are shaping the future of Greater Hartford.
nominate yourself — or someone you know!
Go to www.HartfordBusiness.com and click on the "Our Events" tab.
Nomination deadline is May 26, 2015
Winners will be recognized in a special Issue of the
Hartford Business Journal publishing on July 20, and at
an awards event on September 30 at the Connecticut
Convention Center!
A candidate:
• Must work in the Greater
Hartford area
• May be self-nominated or
nominated by someone else
• Should be owner, founder,
partner, president, CEO,
CFO, COO, board chairman,
senior executive or a person
with significant authority for
decision-making in a public or
private company, non-profit or
government facility
• Must be under the age of 40 as of
December 31, 2015 to be eligible
• Must not be a previous 40 Under
Forty winner.
Winners will be profiled in the
Hartford Business Journal's July 20,
2015 edition
K n o w s o m e o n e yo u n g ,
e n e r g e t i c a n d s u c c e s s f u l ?
Event Sponsors: Event Partners: Presenting Sponsor: In Association With:
