The complex, located in Downtown Bridgeport at 350 FairfieldAve., consists of a seven-story 120,000-sf building; a four-story40,500-sf building and a three-story brick building that totals9,500 sf. Forstone Capital reports the complex is currently 95%occupied. Also included in the deal is an adjoining two-acre vacantparcel that the partnership is studying for possible futuredevelopment.

"In a time of widespread financial turbulence, the completion ofthis transaction was a significant accomplishment for our company,"says Brandon Hall, co-principal of Forstone Capital. "We arethrilled to be playing an active role in the revitalization ofDowntown Bridgeport, while expanding our portfolio."

Brett Wilderman, co-principal of Forstone Capital, adds thatMaxwelle Real Estate is an equity partner in the deal. In addition,the joint venture secured approximately $9.5 million in debtfinancing, for a five-year term, from Washington Mutual at a rateof nearly 6.1%. Fred Frasinelli of AMS Real Estate of Bridgeportwas a broker in the off-market deal.