Gian A. Jones Of Qadirah Companies Inc. Acquires Development Site In North Stonington For $2M

The asset involved in this transaction is a development site located at 137 Norwich-Westerly Road, North Stonington, CT. The sale was completed for $2,000,000, with the property encompassing a total area of 6,969,900 square feet. The site is zoned ED, allowing for large-scale, mixed-use development focused on affordable housing.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $2,000,000
• Buyer: Gian A. Jones - Qadirah Companies, Inc.
• Seller: NW Westerly - Alexander Reich
• Debt Financing Arranged by: Clubhouse Capital LLC

Gian A. Jones represented Qadirah Companies, Inc. in the acquisition of the property, leveraging a longstanding relationship with the seller, Alexander Reich. The focus of the development is on creating affordable housing, aligning with zoning requirements for the site.