Redwood Capital Acquires Mixed-Use Property In Milford, CT For $8.5M

This transaction involves a mixed-use asset located in Milford, CT, consisting of 44 units and a total square footage of 70,506. The property was sold for $8,500,000, which equates to a price per unit of $193,181 and a price per square foot of $120.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $8,500,000
• Units: 44
• Square Footage: 70,506
• Price Per Unit: $193,181
• Price Per Square Foot: $120
• Buyer: Redwood Capital
• Date of Transaction: 09/06/2024

Ben Spiegel and Matthew Rinklin were involved in the transaction. Redwood Capital noted that this acquisition reflects their off-market value-add special situation strategy, with significant projected NOI growth. Furthermore, Redwood Capital has launched a $25 million closed-end fund aimed at RV park acquisitions along the Gulf Coast, targeting the increasing demand for outdoor recreation and hospitality.