PAG Investments Acquires Simsbury Commons for $46.5 Million

New York, NY, UNITED STATES


NEW YORK, Dec. 05, 2019 (GLOBE NEWSWIRE) -- PAG Investments’ Gershon Alexander announced the acquisition of a 256,804-square-foot retail space in Simsbury, Conn., for $46.5 million.

Simsbury Commons is anchored by a Stop & Shop that recently underwent a large-scale renovation, making it a premier destination for shoppers in the Hartford suburb.

Other key tenants include Zoo Health Club, an upscale fitness center undergoing an expansion; the recently renovated Apple Cinemas; Bed Bath & Beyond; HomeGoods; Walgreens; Webster Bank; and Santander.

Alexander said of the deal, “Simsbury Commons is situated in a high-growth demographic area, and has a history of long-term tenancy. We are proud to include it in our retail portfolio.”

The seller, Edens, was represented by Newark Knight Financial. Vice Chairman Geoffrey Millerd brokered the transaction, and Managing Director Tim O’Donnell  sourced the debt from Michael Mahlert, EVP/Sr. Lending Officer at Hometown Bank.

About PAG Investments
PAG Investments is a privately-held real estate investment firm headquartered in New York City. PAG is focused on the acquisition, development, redevelopment, and management of retail, industrial, and office properties in the northeast and mid-Atlantic. PAG has an excellent track record in the ownership and management of real estate assets and seeks to create value for investors, partners, and the communities in which we work and live.

For Immediate Release
Contact: Danielle Harroch
PAG Investments
Danielle@paginvestments.com
917-202-4986