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Monday, June 30, 2014

BLT Confirms It Purchased Nyala Farms Complex for $130 Million

Stamford-based Building and Land Technology (BLT), a firm with close ties to Westport’s Bridgewater Associates hedge fund, today confirmed a WestportNow report Saturday that it is behind the $130 million purchase of the Nyala Farms Corporate Center in Westport. (See WestportNow June 28, 2014) Image
Sale of the 53-acre Nyala Farms Corporate Center was recorded just as Bridgewater Associates announced it was not moving to Stamford. File photo

As reported, the sale is the largest transaction in Westport’s history, and In a statement, the firm said it is the largest real estate transaction in Connecticut this year. Westport reaped $325,000 from the sale while the state got $1,625,000 in conveyance fees.

The sale, to a Stamford-based LLC sharing an address with BLT, was recorded in the Town Clerk’s Office as Bridgewater was announcing it had dropped its plans to move to Stamford where BLT was involved in developing a $750 million waterfront project to house the company. Bridgewater has a large presence in the Nyala Farms faciity, including a trading floor which has recently been renovated at a cost of millions, according to town officials.

Purchase of the 372,207-square foot office park on 53 acres in Westport was announced by Carl R. Kuehner III, CEO of BLT, a privately held real estate private equity, development and property management firm.

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