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 its recent acquisition of Blue Back Square, one of the area’s most desirable destinations, offering some of the best entertainment, dining, retail and housing experiences in the region. Greater hartford Region. Located at 65 Memorial Road, West Hartford, the property was purchased from Starwood Retail Partners, owner of the mixed-use development since 2013. The new ownership group “Blue Back Capital Partners, LLC” is a joint venture between Charter Realty & Development Corp. (Charter Realty) and Rialto Capital.

“Like a Connecticut– Company based, our team is all local and fully dedicated to the long term success of the property. We look forward to working with the West Hartford community and customers to bring new offerings and improve the overall experience at Blue Back Square, ”said Paul Brandes, a founding director of Charter Realty. “Blue Back is a truly unique opportunity for us. We are going all-in.”

Managing Director of Blue Back Square Robyn rifkin added, “Blue Back Square presents an exciting opportunity for the team to bring new energy to what is already one of the region’s top shopping and dining destinations.”

Robyn has been Managing Director of Blue Back Square since 2014 and will also join the Charter team in this role.

Blue Back Square was developed as a public-private partnership between the city of West Hartford and its private partners. The partnership remains strong 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 better position Blue Back for continued success.”

Charter Realty is a Greenwich Full-service commercial real estate development company based, specializing in commercial and mixed-use properties. Charter Realty currently owns, operates or leases over 80 properties across the United States, including nearly 50 Connecticut. Charter Realty’s experience includes operating and leasing a variety of high-end and mixed-use retail projects, including Bedford Square (Westport), Storrs Center – UCONN (Storrs), and more recently to manage and redevelop Evergreen Walk (South windsor). As the owner of Blue Back Square, Charter Realty will assume the full range of day-to-day operations and property management services, including ongoing development, rental and marketing efforts.

About Blue Back Square

Blue Back Square is a unique destination for shopping, living, dining and entertainment. Anchored by Crate & Barrel, Cinepolis Cinemas, West Elm and Barnes & Noble, the establishment also has several high-end restaurants and retailers such as The Cheesecake Factory, Fleming’s Prime Steakhouse and World of Beer.

Ideally located in the highly sought after town of West Hartford and regionally accessible to all Central Connecticut, Blue Back Square is where people buy, eat, work, play and live. Visit www.bluebacksquare.com for more information.

About Charter Realty & Development Corp.

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

About Rialto Capital

Rialto Capital Management is a fully integrated real estate investment management, asset management and operations company. Rialto was formed in 2007 and, since its inception, has been involved in investing billions of dollars of equity in real estate assets. The company invests and manages assets throughout the capital structure in real estate, loans and securities. For more information, please visit www.rialtocapital.com.

For more information, please contact:

Kate terricciano

Image Marketing, on behalf of Charter Realty & Development Corp.

[email protected]

860-919-1020

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Blue back square

SOURCE Real Estate & Development Charter


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