Cornerstone Realty Capital arranges $2.9 million for a mixed-use acquisition of Plaza Middlesex

Paul Natalizio, Cornerstone Realty Capital

Middletown, CT Cornerstone Realty Capital arranged $2.9 million for the acquisition of a mixed-use property known as Plaza Middlesex. The property consists of five buildings totaling 47,250 s/f. Additionally, a 104 space parking lot is located on the premise convenient for tenants of both the office and retail spaces.

Middletown is centrally located between two of Connecticut’s major cities: Hartford and New Haven. The commercial market in the area is especially active, maintaining properties at stabilized occupancy rates. The property itself is situated on Main St. in downtown. This area of Middlesex County is concentrated with many other mixed-use establishments that include both office and apartment units on the upper floors. The property is well located

Plaza Middlesex - Middletown, CT

with close proximity to Connecticut Rte. 9. Moreover, Plaza Middlesex is two blocks away from the Connecticut River and walking distance to Wesleyan University and Middlesex Hospital.

Paul Natalizio, president of Cornerstone, said, “The space has maintained high occupancy providing strong cash flow in recent years. This coupled with the experience of the borrower allowed us to arrange financing at the most competitive rate in the market.”

Cornerstone specializes in structuring and sourcing innovative financing for all property types.