Ostop says that BHN principals Mordy Wider and Aaron Berger bested a number of bidders for the complex. The deal closed on Friday. The complex is about 85% leased.

BHN “liked the buildings, liked the rent roll, they loved the parking garage, but they really liked the plaza, Ostop tells Globest.com. “It is over seven acres.” Ostop says the plaza has the potential to truly be “the fabric” of Downtown Hartford by playing host to festivals and other entertainment events. Such an initiative would integrate well with the ongoing redevelopment of Downtown Hartford that is seeing the adaptive reuse of some underutilized office buildings to residential use, he adds.

“The new ownership was excited to really be a part of this resurgence, this rebirth of Hartford,” Ostop says. JLL has been retained as the leasing and managing agent of the properties by BHN.

Ostop says the deal marks the first acquisition in Hartford for BHN. Most of the firm's holdings are in New York State and New Jersey.

It was also announced on Wednesday that an entity owned by a fund of Wilton, CT-based real estate investment firm Westport Capital Partners LLC, with co-investors Brian Kohn and Steve Kohn, acquired Goodwin Square in Downtown Hartford. Goodwin Square includes a 30-story office tower and the Goodwin Hotel. A published report in the Harford Courant states that Goodwin Square drew a high bid of $17.6 million in an online auction last month. The seller, LNR Partners, had foreclosed on the property in 2012.

Jordan Socaransky, principal at Westport, states, “For too many years Goodwin Square has been under-utilized, and we plan to invest in the office tower and the atrium to bring them back to their former glory as we attract tenants and guests to these special properties.”

He adds, “We view Hartford as a strong opportunity and a growing market. Significant investment and development is taking place throughout the city, including residential, mixed-use with a baseball stadium anchor, and various university facilities. We look forward to playing a key role in the ongoing revitalization of the central business district where Goodwin Square is located.”

Goodwin Square comprises almost a complete city block bordered by Asylum Street, Ann Street, Pearl Street and Haynes Street. The Class A office tower, which totals 330,901 square feet and was built over an eight-story, 302-car garage, was designed by Skidmore, Owings & Merrill and completed in 1989.

The 124-room Goodwin Hotel, which has been closed since 2009, totals 110,000 square feet and includes 24 suites, conference areas, a restaurant and bar. The hotel was constructed in 1989, beneath its historic façade, which dates back to 1881, and received a $4-million facelift in 2002. The hotel is on the National Register of Historic Properties and was once the home of J.P. Morgan. The office tower and hotel are connected by a multi-story atrium. An adjacent land parcel, which was included in the purchase, currently provides additional parking but also offers future development opportunity, Westport Capital Partners states.