Blue Back Square in West Hartford sold to joint venture that includes Greenwich-based firm (nhregister.com)
Blue Back Square, the West Hartford-based mixed-use complex, has been acquired by a joint venture that includes the Greenwich-based company that owns the Evergreen Walk lifestyle center in South Windsor.
The new owners, Charter Realty & Development and Miami-based Rialto Capital, did not reveal the sale price for Blue Back Square or the terms of the deal, which was announced late Friday. A Chicago-based company, Starwood Retail Partners, sold the property, which it has owned since 2013.
The joint venture will operate the complex as Blue Back Capital Partners, LLC.
Blue Back Square has restaurant, retail, entertainment and housing components and is located at 65 Memorial Road, near the center of West Hartford’s downtown area.
“As a Connecticut-based company, our team is all local and fully dedicated to the long-term success of the property,” Paul Brandes, a founding principal of Charter Realty, said in a statement. “We look forward to working with the West Hartford community and patrons alike to bring in new offerings and enhance the overall experience at Blue Back Square.”
Robyn Rifkin, Blue Back Square’s general manager since 2014, said in a statement that the new ownership of the mixed use complex “presents an exciting opportunity for the team to bring new energy to what is already one of the most desirable shopping and dining destinations in the region.”
Blue Back Square was developed as a public-private partnership between the town of West Hartford and its private partners.
West Hartford Mayor Shari G. Cantor said town officials “have been very impressed by Charter’s enthusiasm for this acquisition and with the team’s past experience.”
Charter Realty specializes in retail and mixed-use properties and currently owns, operates, or leases more than 80 properties throughout the U.S., including nearly 50 properties in Connecticut.