Bridgewater Associates’ headquarters complex on Glendinning Place.
Days after announcing that mega hedge fund Bridgewater will not be moving to a property owned by Building & Land Technology in Stamford, BLT now announces it closed on a $130 million deal to buy the land Bridgewater currently inhabits.
This just in from the press folks at BLT:
In the largest real estate transaction in Connecticut in 2014, Building and Land Technology (BLT) acquired Nyala Farms Corporate Center, a 372,207 square foot office park on 53 acres in Westport, CT. The announcement was made by Carl R. Kuehner III, CEO of BLT, a privately held real estate private equity, development and property management firm.
The Class-A property is home to a number of the state’s premiere businesses, including Terex, Bridgewater Associates, Morgan Stanley and RBC. Including this new acquisition, BLT’s portfolio of office properties in the state of Connecticut now totals over 5 million square feet.
“With our acquisition of Nyala Farms, BLT will offer yet another stellar asset to the Southern Connecticut office markets. Nyala Farms is a true gem in a lushly landscaped setting, providing an outstanding location that is easily accessible from residential areas in the Town of Westport and nearby communities,” Mr. Kuehner said. “We’re pleased to expand our portfolio into Westport, which is home to a number of Connecticut’s leading businesses. BLT is a Connecticut company, and the opportunity to acquire another market-leading property here is especially exciting for us.”
BLT is developer of Harbor Point (www.harborpt.com), the transformative master-planned development in Stamford, CT that encompasses an entire neighborhood, including a full mile of waterfront, public parks, abundant restaurants and retail stories, more than 4,000 residential units and several million square feet of commercial development. BLT recently announced a new 430,000-square-foot, 20-year lease with Starwood Hotels & Resorts Worldwide at Harbor Point.
Stay tuned for developments on this.