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WINDSOR LOCKS, CT-The new owner of the Ford Distribution Center,a 226,661-sf facility leased to Ford Motor Corp., has secured a$10.9-million acquisition loan from Hartford Investment Management.The 10-year fixed rate financing deal was arranged by the Hartfordoffice of CBRE|Melody.
The financing of the property by new owner S. Family I LLC, aConnecticut-based partnership, follows the Feb. 27 acquisition ofthe property from Ryan Cos. US Inc. of Minneapolis. The propertytraded for $14,305,000 at a 6.92 cap rate, according to officialswith CB Richard Ellis' Hartford office, which represented Ryan Cos.in the transaction. CBRE Hartford's Bill Bronson, John McCormickand Pat Mulready, along with Steve Buss of the firm's Minneapolisoffice, represented the seller in the deal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
