WEST HARTFORD — Blue Back Square, the landmark dining and entertainment complex in the heart of West Hartford, was sold Friday to a Florida-based investment management company and the company that runs South Windsor’s Evergreen Walk.
Rialto Capital Management of Miami and Greenwich-based Charter Realty & Development announced late Friday that they’d bought the property from Starwood Retail Partners.
Neither Rialto nor Charter disclosed the sale price; Starwood paid more than $104 million for the upscale, 20-acre mixed-use project in 2013.
Mayor Shari Cantor said the town was excited about the arrival of Charter, which recently began managing Evergreen Walk. It runs nearly 50 commercial properties in the state, ranging from large supermarket plazas in New Fairfield, Stratford and Vernon to smaller, niche properties in Westport and Greenwich. Charter also manages the sprawling Colonial Plaza in Waterbury and the Shoppers Fair Plaza in Bridgeport.
“We enthusiastically welcome Charter to the town of West Hartford,” Cantor said. “I am grateful for their interest and investment, and am really looking forward to working with the team.”
Charter offered no specifics about its plans, but said in a prepared statement that it will “bring in new offerings and enhance the overall experience.”
Paul Brandes, a principal in Charter, said “Blue Back is a truly unique opportunity for us. We are all-in.” He said Robyn Rifkin, general manager of Blue Back Square, will move to Charter to keep that role.
Blue Back opened in 2007 with upscale one- and two-bedroom loft apartments along with extensive retail, restaurant and commercial space. Among the best-known tenants currently are Crate & Barrel, Fleming’s Steakhouse, World of Beer and Barnes & Noble,
Charter describes itself as a commercial real estate development company that owns or runs more than 80 properties, mostly in the Northeast but also with holdings scattered as far as Montana and the Carolinas.