RYER Associates Commercial Real Estate, Inc. is pleased to announce the sale of 4 acres of land at 291 Federal Road, Brookfield, CT. This commercial site was purchased by Columbia Pacific, a Seattle based, national developer of assisted living facilities. It sold for $2,800,000 and was brokered by Tom Greene.
This transaction closed in July 2019, after a smooth, one-year due diligence process. Columbia Pacific plans to develop the property into about 156 assisted living suites. It will include about 30 memory care units.
According to Tom Greene, who worked with both the buyer and seller, "this major land transaction was successfully brokered thanks to the flexibility and support of the principals, the City of Brookfield, and the state Dept. of Transportation. This was a true team effort.“