Urban Strategy Fund : A new Boston Real Estate Fund

Lofts 881 Break Ground

Urban Strategy America Fund Announces Investment Project

Bridgeport, CT

July 5, 2007

 

The Urban Strategy America Fund, a New Boston real estate investment fund, has provided essential financing to E/N Properties for the development of Lofts 881 in downtown Bridgeport.


This development includes a conversion of a 40,000-square-foot office building into 38 residential condo units and two retail storefronts. Located in the heart of the Central Business District with close proximity to the Metro North and Amtrak Train’s Bridgeport stop, “USA’s investment is a demonstration of the Fund’s commitment to transit-oriented development as well as work force housing for Bridgeport residents, said Kirk Sykes, president, USA Fund. “We believe Lofts 881 will add to the increasing vibrancy of the area while demonstrating to our Connecticut investors that we strongly believe in investing in Connecticut.”


The USA Fund joined forces with The City of Bridgeport along with The Community Preservation Corp. (CPC), a New York-based not-for-profit mortgage lender, to help finance the project. The three groups gathered recently for the official groundbreaking ceremony.


“This project in Bridgeport is exactly the kind of investment opportunity the State of Connecticut pension plans was looking for when we invested in the Urban Strategy America Fund in October 2005,” said Connecticut State Treasurer, Denise L. Nappier.


As part of the USA Fund’s continued commitment to Connecticut, the company also plans to develop a new 150-unit condominium development in Niantic in conjunction with Vespera that will include a combination of market rate and affordable housing. New Boston also recently purchased 545 Long Wharf Drive, a nine-story, Class A office building situated in New Haven Harbor leased substantially to AT&T and Citigroup, and recently leased its 100,000-square-foot warehouse in Rocky Hill to the Connecticut State Lottery.


New Boston currently owns 23 commercial properties in Hartford and Fairfield Counties totaling 2.5 million square feet, as well as 227 Class A apartment units in Middletown.


 


About the USA Fund

The Urban Strategy America ('USA') Fund is a New Boston real estate investment fund that executes on the promise of a triple bottom line- generating solid returns to investors, spurring economic development and workforce housing, and promoting environmental sustainability.


About New Boston Fund

New Boston is an independent, privately owned real estate investment manager and an industry leader in providing real estate investment, development and management services with a history of strong sponsorship and oversight of its investment funds. New Boston has developed or acquired commercial and residential properties with a cumulative market value of about $4.0 billion including 20 million square feet of commercial real estate and 6,700 residential units. Our investment vehicles cater to institutional and high-net worth investors by offering value add and urban real estate investment funds with a focus on diversification and capital preservation. New Boston Fund: People, Values, Returns.

 
 

News

 

Back to News

 

Contact Us Terms & Conditions   New Boston Fund