Blue Back Square Sold to Starwood Capital Group for Nearly $105 Million

The expected sale of Blue Back Square to Starwood Capital Group, a Greenwich investment firm, was finalized last week.

According to the West Hartford Town Clerk's database of real estate sold, the Blue Back Square property was sold to an entity officially known as "SOF-IX Blueback Square Holdings LP" for the sum of $104,900,000 on April 30, 2013.

The sale was announced publicly by Starwood Holdings on Monday, according to the Hartford Courant, which includes the following written statement from Ethan Bing, vice president of Starwood Capital: “We are pleased to be acquiring a high quality, well-located, mixed-use development that is an integral asset within the upscale West Hartford community.” 

In a news release published on PR Newswire, Scott Wolstein, chief executive of Starwood Retail Partners, a division of Starwood Capital Group, said, "Blue Back Square is a welcome addition to our portfolio."

"We look forward to bringing our best-in-class retail expertise to enhance what is already a premier live/work/play destination center," Wolstein added.     

Blue Back Square opened in late 2007, and was previously owned by Atlanta-based Ronus Properties.