CBRE Global Investors has closed on the purchase of the Stamford Towers in Stamford, CT for $97 million. The acquisition consists of two adjacent Class A office buildings located one block from the Stamford Transportation Center in Stamford’s CBD. The asset is currently leased to national tenants including Citigroup, UBS Financial Services, H/2 Credit Manager, and Bank of Ireland. The property recently underwent capital improvements with the addition of a fitness center and basketball court, conference facility and new glass entrancess. Jeffrey Dunne, David Gavin and Travis Langer of CBRE’s Institutional Properties represented the sellers, SL Green and TH Real Estate
Jeffrey Dunne, CBRE Institutional Properties stated, “Stamford Towers represents the most recent example we’ve seen of strong demand in the market for high quality suburban properties. We expect CBRE Global Investors will fare well with the acquisition due to Stamford Towers’ credit rent roll and strong position in the market.”
