Hartford, CT Hunton & Williams LLP has advised RBH Group in its $20 million acquisition and planned redevelopment of 370 Asylum St.
The transaction will transform and repurpose a long-vacant commercial building in downtown into a mixed-use space. The project, known as Teachers Corner Hartford, will be comprised of luxury market-rate and affordable residential units, pre-marketed to local education professionals, and will feature a suite of amenities.
Hunton & Williams’ legal team was led by New York real estate partner Laurie Grasso and associate Douglas Hoffmann.
“Teachers Corner Hartford represents a unique public-private partnership that will transform an underutilized urban area into a vibrant and important hub of activity,” said Grasso. “We are happy and honored to have been able to assist Ron Beit and RBH Group in successfully carrying out this important development and in the continued growth of their business.”
In realizing Teachers Corner Hartford, RBH Group continued its joint venture with the Goldman Sachs Urban Investment Group, and is also partnering with Hartford’s Community Solutions, Inc., and The Prudential Social Investment Group, with funding provided by the City of Hartford and various Connecticut State Agencies.