Hinge Closes Another Real Estate Transaction in Connecticut Market
Hinge announced today the sale of a childcare building occupied by a multi-site client located in the metro Hartford area. The real estate was sold to an individual in California who had funds relating to a 1031 like-kind exchange. The seller, a large independent operator with multiple locations in Connecticut had owned the property for several years and operated a very successful childcare center in the building. After growing a successful business, he chose to capitalize on the increase in equity that had accumulated over many years. Hinge secured a new 15-year lease for the real estate seller who intends to use the proceeds for future growth of his operating company. By reaching out to our national buyer base, Hinge was able to avoid public marketing of the property and risking the negative publicity that might be associated with it and could potentially damage the business. The lease was attractive to the buyer, who had previously completed another childcare purchase with Hinge, as he was pleased with his initial purchase and comfortable with his investment in the childcare industry.
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