REAL ESTATE FINANCE ASSOCIATION OF CONNECTICUTrefact.org/documents/REFA Summer Newletter 2017.pdf · miriam wheeler, goldman sachs doug novitch, wells fargo bank richard walsh, new

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REFA-CT • One Regency Drive • Bloomfield, CT • 06002 • 860-243-3977 • www.refact.org

R E A L E S T A T E F I N A N C E

A S S O C I A T I O N

O F C O N N E C T I C U T

I n s i d e th i s i s su e :

Hartford January

Programs

2

Fairfield/Westchester

January Programs

3

February Programs 4

March/April/May

Programs

5

Young Professionals

Network Events

6

Hartford Young Profes-

sionals Habitat Build

7

Golf Outing

REFA Fall Classic

8-9

10

Member Notes/ 11-

12

Recent Case of Interest

and 2018 Membership/

Sponsorships

12

2017 Annual Sponsors 13-

14

Member Benefits 15

HALF-WAY THROUGH 2017….WE’VE HAD A BUSY YEAR TO DATE!

January: Hartford Chapter’s “Members-Only Roundtable Discussion”,

Hartford Chapter’s “Old School vs. New School” and Winter Social,

Fairfield/Westchester Chapter’s “Lenders Panel” and

Fairfield/Westchester’s Winter Social

February: Fairfield/Westchester Chapter’s “New Rochelle-Open for Business” and

Hartford Chapter’s “The Solar Story”

March: Fairfield/ Westchester Chapter’s “Office Leasing-Current Market Strategies” and

Hartford Chapter’s “Real Estate Finance Markets in 2017”

April: Hartford Chapter’s “P3 Retail”

May: Hartford Chapter’s “What’s the Next Step for Economic Development in Hart-

ford?”,

Fairfield/Westchester Chapter’s Members Only Breakfast with Jonathan Miller and

Tour of Norwalk’s Most Exciting Mixed-Use Development-The Waypointe District

June: Annual REFA-CT Golf Outing

Upcoming Events

August 17th: Hartford Chapter’s Summer Social, One Financial Plaza, downtown Hart-

ford

September 14th: Fairfield/Westchester Chapter’s “State of the Market” at Wee Burn

Beach Club and

September 28th: REFA-CT Fall Classic, Great River Golf Club, Milford, CT

Young Professionals Network has been busy, too!

January: Fairfield/Westchester Chapter’s discussion with Zach Fox of Urstadt Biddle at

the Fairfield/Westchester Holiday Social

February: Hartford Chapter’s UConn Basketball game and Happy Hour

March: Fairfield/Westchester Chapter’s Breakfast Round Table Discussion: “Legal 101”

April: Hartford Chapter’s Tour and Game at Dunkin Donuts Stadium

June: Fairfield/Westchester Chapter’s Tour and Networking Social of Harbor Point and

Hartford Chapter’s Tour of the new UConn Campus in downtown Hartford

July: Hartford Chapter’s Habitat for Humanity Build

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H A R T F O R D C H A P T E R ’ S J A N U A R Y P R O G R A M S

MEMBERS-ONLY ROUNDTABLE

“OLD SCHOOL VS. NEW SCHOOL”

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LENDERS PANEL

FAIRFIELD/WESTCHESTER CHAPTER’S JANUARY PROGRAMS

HOLIDAY SOCIAL

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FAIRFIELD/WESTCHESTER’S FEBRUARY PROGRAM :

“NEW ROCHELLE-OPEN FOR BUSINESS”

SPEAKERS

NEW ROCHELLE MAYOR NOAM BRANSOM

SETH PINSKY, RXR REALTY

HARTFORD CHAPTER’S FEBRUARY PROGRAM: “THE SOLAR STORY”

SPEAKERS

BRUCE BECKER, BECKER + BECKER

JESSICA BAILEY, GREENWORKS

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FAIRFIELD/WESTCHESTER CHAPTER’S MARCH PROGRAM:

“OFFICE LEASING-CURRENT MARKET STRATEGIES”

SPEAKERS:

TOM PAJOLEK-CBRE

GLENN WALSH-NEWMARK GRUBB KNIGHT FRANK

LESLIE WHATLEY-BLT

JIM FAGAN-CUSHMAN & WAKEFIELD

HARTFORD CHAPTER’S MARCH

PROGRAM:

“REAL ESTATE FINANCE MARKETS IN

2017…

WAIT FOR IT….”

SPEAKERS:

TOM PODGORSKI, FREDDIE MAC

JAMIE HENDERSON, BARINGS

MIRIAM WHEELER, GOLDMAN SACHS

DOUG NOVITCH, WELLS FARGO BANK

RICHARD WALSH, NEW YORK LIFE

INSURANCE COMPANY

MIKE RICCIO, CBRE CAPITAL MARKETS

FAIRFIELD/WESTCHESTER

CHAPTER’S MAY

BREAKFAST PROGRAM

JONATHAN J. MILLER,

MILLER SAMUEL INC.

HARTFORD CHAPTER’S APRIL

PROGRAM:

“P3 RETAIL”

SPEAKERS:

MARK MCGOVERN, TOWN OF WEST HART-

FORD

CYNTHIA VAN ZELM, MANSFIELD DOWN-

TOWN PARTNERSHIP, INC.

DAVID SALINA, DIGITAL SURGEONS

TONY VALENTI, R. CALABRESE AGENCY, LLC

HARTFORD CHAPTER’S MAY PROGRAM

“WHAT’S THE NEXT STEP FOR ECONOMIC

DEVELOPMENT IN HARTFORD?”

SPEAKERS:

MIKE FREIMUTH, CRDA

SEAN FITZPATRICK, CITY OF HARTFORD

RANDY SALVATORE, RMS COMPANIES

JEFFREY RAVETZ, GIRONA VENTURES

MARTY KENNY, LEXINGTON PARTNERS LLC

FAIRFIELD/WESTCHESTER CHAPTER’S

MAY PROGRAM

THE WAYPOINTE DISTRICT TOUR

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YOUNG PROFESSIONALS NETWORK

FAIRFIELD/WESTCHESTER CHAPTER

JANUARY

HOLIDAY SOCIAL

ZACH FOX, URSTADT BIDDLE

HARTFORD CHAPTER

FEBRUARY

HAPPY HOUR AND UCONN

BASKETBALL GAME


MARCH

“LEGAL 101”

CHUCK MARTIN AND APRIL CONDON

ROBINSON + COLE

HARTFORD CHAPTER

APRIL

YARD GOATS GAME

AT DUNKIN DONUTS STADIUM


JUNE

TOUR OF HARBOR POINT ON THE

ROOFTOP OF THE BEACON

AND NETWORKING SOCIAL AT THE

SIGN OF THE WHALE

HARTFORD CHAPTER

JUNE

HARD HAT TOUR OF THE NEW

DOWNTOWN HARTFORD UCONN

CAMPUS

AND NETWORKING SOCIAL AT NIX

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YOUNG PROFESSIONALS NETWORK

HARTFORD CHAPTER

JULY

HABITAT FOR HUMANITY BUILD

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REFA-CT ANNUAL GOLF OUTING

RACE BROOK COUNTRY CLUB, ORANGE, CT

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REFA-CT ANNUAL GOLF OUTING

RACE BROOK COUNTRY CLUB, ORANGE, CT

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The 2017

REFA FALL CLASSIC (formerly the REFA Gala)

Networking, Food, and Fun

Thursday, September 28, 2017

Great River Golf Club, Milford, CT

Announcing this year’s entertainment…

Alingon Mitra

Alingon is a stand-up comedian and comedy writer living in New York. He has written for THE DAILY SHOW

WITH TREVOR NOAH on Comedy Central and was also staffed on ADAM RUINS EVERYTHING for

TruTV. He has done stand-up on THE LATE SHOW WITH STEPHEN COLBERT, CONAN, LATE

NIGHT WITH CRAIG FERGUSON, and ADAM DEVINE’S HOUSE PARTY. After becoming a semi-

finalist on LAST COMIC STANDING, Alingon won the coveted “Comic Comeback” award to appear in the

season finale. He was selected to be a new face at Just For Laughs Comedy Festival in Montreal in 2015. Alin-

gon graduated from Harvard, where he was a writer for the illustrious Harvard Lampoon.

Watch your mail for the formal invitations!

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M E M B E R N O T E S

Amenta Emma

• Was selected by Deutsch Family Wine & Spirits to coordinate a complicated program for the company’s extensive beverage portfolio located in 43,500 s/f in Stamford.

Empire State Realty Trust (Jeff Newman)

• Brokered two leases at 100 Stamford Place in Stamford: Capital One North America leased 10,000 s/f and TigerRisk Partners LLP leased 4,9000 s/f.

• Announced that Partner Reinsurance Company of the U.S. has leased 56,700 s/f at 200 First Stamford Place in Stamford.

Gilbane Building Company

• Served as construction manager at-risk for the renovations at Enfield High School. The consolidated high school encompasses a new 106,000 s/f addition for STEAM (science, technology, engineering, art and math) and a 14,000 s/f music addition, along with an expansion of the cafeteria, kitchen, and other departments.

Avison Young (Sean Cahill and Lori Baker)

• On behalf of Shelbourne Global Solutions, LLC, new owner of 1000 Lafayette Boulevard, Bridgeport, arranged a 4,800 s/f lease with Connecticut Legal Services.

• Arranged a 15,000 s/f lease with Western Connecticut Medical Group to serve as the anchor tenant for the Wilton Wellness Center.

• Represented the owner in the lease of 8,204 s/f to COWI North at 1000 Lafayette Boulevard in Bridgeport. The Fremont Group (Jonathan Keller)

• Completed the sale of Metro Center, 350 Church Street, Hartford to Shelbourne Global Solutions , LLC for $49 million. Patrick Mulready of CBRE/NE represented the seller in the transaction.

The HB Nitkin Group (Craig Way)

• Secured a $53.5 million loan for the refinance of Greenwich Financial Center, a 81,000 s/f Class A office property in Greenwich.

Saugatuck Commercial Real Estate (Penny Wickey)

• Represented Ryan Ryan Deluca LLP in the lease of 12,351 s/f at 1000 Lafayette Boulevard in Bridgeport. Albert Ashforth, Inc.

• Renewed the 9,586 s/f lease with Ryan Ryan Deluca LLP at 707 Summer Street in Stamford. Colliers International (Michael Siegel)

• Represented COWI North America in the 8,204 s/f at 1000 Lafayette Boulevard in Bridgeport.

CBRE (Jeff Dunne, Robert Caruso)

• Represented General Electric in the sale of its former global headquarters in Fairfield to Sacred Heart University for $31.5 million.

CBRE (Jeff Dunne)

• Represented RA 225 High Ridge LLC in the sale of 225 High Ridge Road in Stamford, a 244,104 s/f Class A office building for $22.55 million. He was also responsible for procuring the buyer, TNREF III High Ridge LLC, a joint venture between Baywater Properties of Darien and an investment fund managed by True North Management Croup, LLC of New York.

CBRE (Louis Zuckerman and Patrick Colwell)

• Arranged the $4.8 million sale of 800 Post Road in Darien. They represented the seller, Hawthorne Realty, and procured the buyer, JEM Holdings of New York.

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H A R T F O R D T R A N S A C T I O N S

Cushman & Wakefield

• Arranged a 10-year lease expansion and extension totaling 100,968 s/f at 99 Hawley Lane in Stratford for Yale New Haven Health and North East Medical Group. The owner of the property, Mountain Development, was represented in-house by Joseph Coci.

CBRE/NE (Patrick Mulready and John McCormick)

• Negotiated the sale of Somerset Square’s flagship office property, a four-story, 147,935 s/f Class A office property located at 95 Glastonbury Blvd. in Glastonbury, for the owner, The Silverman Group, for $23.6 million. They also procured the buyer, a partnership controlled by Capstone Properties.

Easement can impact value

By: Elliott B. Pollack, Esq.

Pullman & Comley LLC

It is not often that a residential tax appeal can offer a helpful nugget of information for those concerned with commercial valuations. However, this is the case in a recent New Haven tax

appeal decided by Judge Steven Ecker.

At issue was the value of an upscale home in Branford as to which the court wryly observed

that the appraisers “show(ed)” partiality . . . in favor of the party who commissioned it . . . .

In the course of reducing the assessor’s market value by about 10%, the court noted that the town’s appraiser failed to “adequately account” for an easement over the property which gave

the owner of an adjacent home vehicular entry over the subject residence’s land to a tidal creek providing access to the Long Island Sound.

The decision points to the importance of understanding title to a property whose value is being litigated and in accurately gauging the impact of any rights reserved to others.

Lovejoy Family, LLC v. Town of Branford, Docket Number CV-15-6054381-S, May 1, 2017.

2018 SPONSORSHIPS AND MEMBERSHIP

Thanks to the over 500 members and over 80 sponsors in 2017 for supporting REFA-CT!!

2018 sponsorship forms will be mailed to all members in September. Choose the level of sponsorship that best fits your company: REFA-Wide offers visibility on the registration flyers in both the Fairfield/

Westchester Chapter and the Hartford Chapter and includes 2 memberships and 10 passes to attend monthly programs. A Chapter Sponsorship will give your company visibility on that chapter’s monthly meeting notice,

one membership and 5 passes to the monthly programs. All sponsors will be on the Power Point presentation that is shown at the monthly programs.

REFA membership is by individual. Become a REFA member and pay a lower fee to attend monthly

meetings and receive member-only notices. Members will receive notification in October on renewing their dues…..don’t forget, you can do that online!

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FOUNDING SPONSORS

Carlton Fields Jorden Burt

Cigna Realty Investors

Day Pitney LLP

Fidelity Family of Title Insurers

First American Title Insurance Company

Hart Realty Advisers, Inc.

McElroy, Deutsch, Mulvaney & Carpenter, LLP

People’s United Bank

REFA-WIDE SPONSORS

Amenta Emma Architects

AvalonBay Communities

Bank of America

Brown Rudnick LLP

CATIC

CBRE

CohnReznick LLP

Construction Insight, Inc.

Guilford Savings Bank

GZA GeoEnvironmental, Inc.

H.B. Nitkin Group

HRP Associates

Key Bank

Murtha Cullina LLP

Perkins Eastman

Pullman & Comley

Robinson & Cole, LLP

Shipman & Goodwin, LLP

TD Bank N.A.

United Bank

FAIRFIELD/WESTCHESTER CHAPTER SPONSORS

Antinozzi Associates

Building & Land Technology

Cacace Tusch & Santagata

Carmody Torrance Sandak Hennessey LLP

Celestial Capital Group, LLC

Cohen & Wolf, P.C.

Collins Enterprises, LLC

Cushman & Wakefield

Empire State Realty Trust

First American Title NCS

Forstone Capital, LLC

Fuller Development

Gilbane Building Company

Goedecke & Co., LLC

2 0 1 7 R E F A - C T S P O N S O R S

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FAIRFIELD/WESTCHESTER CHAPTER SPONSORS (cont’d)

Jones Lang LaSalle

JP McHale

Lincoln Property Company

M&T Bank

Marcus Partners

McCarthy Fingar LLP

Merritt 7 Corporate Park

Mountain Development Group

Newmark Grubb Knight Frank

NorthMarq Capital LLC

Nova Consulting Group

OFI

Reckson, a Division of SL Green

RMS Construction, LLC

Spinnaker Real Estate Partners

Sterling National Bank

Summer Street Advisors

Tecton Architects

The Ashforth Company

The Davis Companies

Union Savings Bank

Urstadt Biddle Properties

Webster Bank

WFL Real Estate Services

HARTFORD CHAPTER SPONSORS

Barings

BlumShapiro

Brown Rudnick

Center For Real Estate (UConn)

Farmington Bank

Ford & Paulekas

GHD Services

Hinckley Allen & Synder

Lexington Partners LLC

McCarter & English, LLP

M.J. Fish Insurance

MetroHartford Alliance

Sentry Commercial

The Simon Konover Company

Tomasso Brothers

UBS Realty Investors, LLC

Updike, Kelly & Spellacy, P.C.

Whittlesey & Hadley

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REFA Sponsorship

REFA-CT Sponsors serve a leadership role in supporting the organization financially as well as fostering the exchange of real estate finance information through program and networking opportunities. As a Sponsor, organizations not only gain the benefit of REFA’s membership opportunities, but they bene-fit from special Sponsor networking events and increased visibility within the industry. Sponsors are rec-

ognized as leaders by their peers.

• Free membership and free passes to regular programs

• Sponsor-only dinners and special events

• Company name visibility on REFA-CT website and printed materials

• Direct company links from REFA-CT website

• Automatic Fall Classic Sponsorship

For more information, visit: www.refact.org/sponsor

• More than 50 specialized breakfast and lunch programs, such as The State of the Market and Capital Markets. Programs are led by popular guest speakers, including high-level economists from Fairfield University, Webster Financial Group, Moody’s Analytics, Torto-Wheaton, and the Center for Real Estate at UConn

• Special networking events, including seasonal cocktail receptions, sponsor receptions, and the annual Golf Outing

• The REFA-CT Fall Classic - considered the networking “event of the year” for Con-necticut commercial real estate professionals

• An online membership directory, including an updated website list of all association members - A Who’s Who of Commercial Real Estate Professionals

• As THE information resource for the Connecticut real estate community, REFA-CT hosts an impressive calendar of educational seminars and networking events that include a who’s who of the industry.

For more information, visit: www.refact.org

Member Benefits

Through its efforts to foster the exchange of real estate finance information, REFA has earned a reputation for delivering quality programming at a more than competitive price.

Member Benefits Include:

Our Vision: To be the Premier Association of

Real Estate Finance Professionals

Sponsor Benefits Include:

http://www.refact.org/sponsor.html

Documents

REAL ESTATE FINANCE ASSOCIATION OF CONNECTICUTrefact.org/documents/REFA Summer Newletter 2017.pdf · miriam wheeler, goldman sachs doug novitch, wells fargo bank richard walsh, new