{"id":1004606728,"date":"2022-10-13T23:50:00","date_gmt":"2022-10-14T07:50:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004606728"},"modified":"2022-12-08T16:03:42","modified_gmt":"2022-12-09T00:03:42","slug":"northpath-investments-buys-connecticut-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/northpath-investments-buys-connecticut-office-asset\/","title":{"rendered":"Northpath Investments Buys Connecticut Office Asset"},"content":{"rendered":"<div id=\"attachment_1004606731\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/6165-e1665733657173.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004606731\" data-attachment-id=\"1004606731\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/northpath-investments-buys-connecticut-office-asset\/attachment\/6165\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/6165-e1665733657173.jpg\" data-orig-size=\"917,687\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"175-B Scott Swamp Road\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;175-B Scott Swamp Road&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/6165-e1665733657173.jpg?w=917\" class=\"wp-image-1004606731 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/6165-e1665733657173.jpg?w=300\" alt=\"175-B Scott Swamp Road\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/6165-e1665733657173.jpg 917w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/6165-e1665733657173.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/6165-e1665733657173.jpg?resize=768,575 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004606731\" class=\"wp-caption-text\">Building Two at 175 Scott Swamp Road<\/p><\/div>\n<p><strong>Northpath Investments<\/strong> has acquired Building Two at 175 Scott Swamp Road, a 100,539-square-foot office property in Farmington, Conn. <strong>Harvest Equities<\/strong> sold the asset for $13.5 million, according to public records.<\/p>\n<p><strong>Jll Capital Markets <\/strong>secured the $8.8 million, five-year, non-recourse acquisition loan provided by <strong>bankESB<\/strong>. The building previously traded in 2005, when the current seller picked it up for $25.3 million, CommercialEdge data shows.<\/p>\n<p>The asset is part of a 16.5-acre office campus encompassing two buildings, with the properties having separate owners. The Tomasso Group is listed as the owner of Building One, which opened in 2008.<\/p>\n<p>Health insurance provider ConnectiCare is the sole tenant of Building Two and has been operating at the property since its completion in 2002. The controlled-access building offers onsite amenities, such as a cafeteria and 530 parking spots.<\/p>\n<p>A JLL team led by Senior Managing Director Michael Klein, Director Max Custer and Analyst Salvatore Buzzerio negotiated the loan transaction on behalf of the borrower. In August, Custer was also involved in securing a <a href=\"https:\/\/www.commercialsearch.com\/news\/new-jersey-office-building-lands-31m-refi\/\">$31 million refinancing loan<\/a> for a 210,000-square-foot office building in Union, N.J. JLL worked on behalf of the landlord, an affiliate of Cali Futures LLC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The building previously traded for almost double its current sale price.<\/p>\n","protected":false},"author":3030,"featured_media":1004606733,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,10,21747],"tags":[32796,51720],"class_list":["post-1004606728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-northeast","category-office","tag-jll","tag-northpath"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Northpath Investments Buys Connecticut Office Asset - CPE<\/title>\n<meta name=\"description\" content=\"Northpath Investments has acquired a 100,539-square-foot office building in Farmington, Conn., for $13.5 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/northpath-investments-buys-connecticut-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Northpath Investments Buys Connecticut Office Asset\" \/>\n<meta property=\"og:description\" content=\"Northpath Investments has acquired a 100,539-square-foot office building in Farmington, Conn., for $13.5 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/northpath-investments-buys-connecticut-office-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-14T07:50:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:03:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/6165-1-e1665657132232.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"947\" \/>\n\t<meta property=\"og:image:height\" content=\"710\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Raluca Toma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/northpath-investments-buys-connecticut-office-asset\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/northpath-investments-buys-connecticut-office-asset\\\/\"},\"author\":{\"name\":\"Raluca Toma\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1e908d9381f3929d1d57f95e4db8c529\"},\"headline\":\"Northpath Investments Buys Connecticut Office Asset\",\"datePublished\":\"2022-10-14T07:50:00+00:00\",\"dateModified\":\"2022-12-09T00:03:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/northpath-investments-buys-connecticut-office-asset\\\/\"},\"wordCount\":204,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/northpath-investments-buys-connecticut-office-asset\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/10\\\/6165-1-e1665657132232.jpg\",\"keywords\":[\"JLL\",\"Northpath\"],\"articleSection\":[\"Investment\",\"News\",\"Northeast\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/northpath-investments-buys-connecticut-office-asset\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/northpath-investments-buys-connecticut-office-asset\\\/\",\"name\":\"Northpath Investments Buys Connecticut Office Asset - 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