Davis Companies sells portfolio to Berwind Properties.The Davis Companies recently announced the sales of 187 Danbury Road in Wilton, CT for $27.125 million or $205 per square foot. This is the third and final property in a $58 million transaction that was sold to a limited partnership controlled by Berwind Property Group. The CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. Tri-State Investment Team, led by Jeff Dunne Jeffrey "Jeff" Dunne born 14 May 1956 is a former Australian rules footballer. Played for St Kilda as a hard running back pocket, he was a solid defender and represented Victoria. Now a business man based in Tasmania with his wife and 4 children (3 sons, 1 daughter). , represented both the buyer and the seller in the transaction. The Davis Companies also announced that the company will continue to provide property management services for all three properties for the new ownership, as well as services for other properties Berwind has purchased in Fairfield County Fairfield County is the name of three counties in the United States:
"The completion of the sale of this portfolio of properties is the latest in a long line of accomplishments for the Davis Companies in Connecticut over the last 18 months," said David Fiore, The Davis Companies' Director of Connecticut Operations. "We continue to be strategically focused on being a leading real estate owner, developer and property manager in Connecticut to take advantage of the favorable market conditions and exceptional potential evident throughout the entire state." The Davis Companies is using the proceeds of these transactions to purchase other real estate in the New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. and greater New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of area. The property at 187 Danbury Road, named Wilton Corporate Centre, is one of the most technologically-advanced Class A office buildings in Connecticut, with full occupancy of its 132,536 square-feet of space. With Davis Companies as owner, the property underwent a $1 million renovation program, adding many significant improvements, including a newly refurbished lobby, care and full fitness center. "Our association with Berwind Property Group has clearly met the short- and long-term goals Long-term goals Financial goals expected to be accomplished in five years or longer. of both companies, and has been a win-win situation for both parties," said Fiore. "Together with 2150 Post Road in Fairfield, 35 Nutmeg nutmeg, name applied to members of the family Myristicaceae. The true nutmeg (Myristica fragrans) is an evergreen tree native to the Moluccas but now cultivated elsewhere in the tropics and to a limited extent in S Florida. Drive in Trumbull and 185 Plains Road in Milford, Berwind Property Group has assembled an excellent portfolio of prestigious real estate properties in Connecticut." "As one of the premier office properties in eastern Connecticut, with a strong rent roll and 100 percent occupancy, Wilton Corporate Centre is clearly the centerpiece of the portfolio," said Jeff Dunne of CB Richard Ellis. Roy Perry Roy Perry (born 12 February 1943) is a British politician. Perry graduated from the University of Exeter with a degree in Government and Politics and was formerly a senior lecturer in Politics before entering the profession himself as a member of Test Valley Borough Council , senior vice president of Berwind Property Group, added "The Davis Companies has done an exceptional job of managing these properties; has an excellent understanding of the Connecticut marketplace; and a keen sense of tenant needs. By retaining them as property manager, we can continue to provide the tenants with the highest quality service and make the ownership transition totally seamless. The buildings acquired from The Davis Companies, with a combined 97 percent occupancy rate Noun 1. occupancy rate - the percentage of all rental units (as in hotels) are occupied or rented at a given time pct, per centum, percent, percentage - a proportion in relation to a whole (which is usually the amount per hundred) , have had an excellent degree of client satisfaction since The Davis Companies took control of the properties several years ago." The Davis Companies has been extremely active in Connecticut since entering the market in 1993. In August of last year, The Davis Companies, in association with David A. Mack Properties and its joint venture financial partner, Prudential Real Estate Investors A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. , broke ground on the first building in a three-building 400,000 square-foot Class A office development in Shelton, CT known as Reservoir Corporate Centre, which will be ready for occupancy this April. The Davis Companies is a 23-year-old real estate investment management and development firm with substantial experience in a broad range of acquisition and development projects, and currently owns and manages in excess of 3.6 million square feet of commercial space. |
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