Officials at Starwood Capital Group L.L.C. announced the purchase of  a mixed-use development in West Hartford this morning.
Located at Main Street and Farmington Avenue, the development, Blue Back Square, includes 450,000 square feet of Class A office, medical, residential and retail space.
The development, which was completed in 2008, is 96 percent leased, according to Starwood, a Greenwich-based private equity firm. Tenants include Hartford Hospital, a number of professional services and law firms, and retailers Crate & Barrel, Cheesecake Factory, Barnes & Noble, and REI, among others.
The transaction is the latest in a series of retail purchases since the group formed Starwood Retail Partners last year.
Details of the transaction, including the purchase price, were not disclosed. The development was purchased from a partnership including Street-Works L.L.C. of White Plains, N.Y., JDA Development of West Hartford and Ronus Properties L.L.C. of Atlanta. The Blue Back Square management team will continue in its current capacity, Starwood said.
“We are pleased to be acquiring a high quality, well-located, mixed-use development that is an integral asset within the upscale West Hartford community,” said Ethan Bing, Starwood Capital vice president, in a May 6 statement. “Blue Back Square is a fundamentally strong, infill asset in an attractive market.”
