Target Real Estate Equities LLC and Holly Pond Capital LLC Complete Acquisition of Norwalk Office Building

Norwalk, Connecticut–(business wire)–Targeted Real Estate Equities LLC (“Target”) as Principal and Special Advisor, and Holly Pond Capital LLC (“Holly Pond”) as Sponsor (collectively, “New Ownership”), located at 69 East Avenue, Connecticut Over 14,000 square feet office building in downtown Norwalk, TN. In addition to upgrading the building, the new owners plan to convert general office space into medical office space.

Concurrent with the closing of the acquisition, a long-term lease was entered into with the Center for Advanced Pediatrics to occupy an entire Floor of the building (50% of the leasable space in the building).

“The market consolidation of large hospitals and various medical groups has increased the demand for clinic space in Fairfield County. is the second acquisition in the past year of a local property that can be partially or wholly repurposed for medical office use,” said Daniel Steinberg of Targeted.

Holly Pond’s Brian Jarmain added: We are very excited about this project and continue to seek similar opportunities throughout Fairfield County. ”

Sean McDonnell of JLL, as the ground floor lessee of the building, represented the new ownership in connection with the acquisition of the facility and the procurement of the Advanced Pediatric Center. Mr McDonnell and his team at JLL will continue to represent the new owners for future leasing needs.

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