Northpath Investments Acquires Office In Farmington, CT For $13.5M

An office asset located at 175 Scott Swamp Road in Farmington, CT, was recently sold and financed through a loan. The transaction took place on October 13, 2022. The property, spanning 100,539 square feet, was sold for $13,500,000, resulting in a price per square foot of $134. The buyer, Northpath Investments, acquired the asset from the seller, Harvest Equities. The sale was facilitated by the lender, bankESB, which provided a loan amount of $8,800,000 to Northpath Investments. The loan terms are set for five years and are non-recourse.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $13,500,000
• Address: 175 Scott Swamp Road, Farmington, CT
• Market: Farmington, CT
• Square Footage: 100,539
• Price Per Square Foot: $134
• Buyer: Northpath Investments
• Seller: Harvest Equities
• Lender: bankESB
• Loan Amount: $8,800,000
• Loan Terms: Five-year, non-recourse acquisition loan

The mortgage broker representing Northpath Investments in this deal was Michael Klein, Max Custer, and Salvatore Buzzerio, affiliated with JLL.