Select INVESTMENTS

 
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8 Fairfield boulevard

Sapient purchased 8 Fairfield Boulevard, located in Wallingford, CT, in June 2017. The property, a 44,000 square foot flex office building, was bought from a lender that had foreclosed on it. It was 68% occupied and had substantial deferred maintenance. Sapient quickly implemented an expansive capital improvement plan which included replacing the roof, repaving the entire parking area, repointing and painting the façade, and exterior cosmetic improvements. Working closely with our leasing team, including cutting deals to expel delinquent tenants and aggressively pursuing high-quality tenants to backfill the vacancies, the building was 100% occupied by the Fall of 2018. Sapient closed on the sale of the property in December 2019.

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Hyde Park Station

Sapient purchased Hyde Park Station, a grocery-anchored shopping center in Baltimore County, MD, in March 2018. At acquisition, the center was 78% occupied and tired, as no new leases had been signed for over seven years. After closing, Sapient flipped the center's Dunkin’ pad at a premium to where it was purchased. Sapient focused on upgrades to the center that revived its local market reputation and pursued creative value add strategies, including securing zoning approval to install a unique pylon sign and to locate a new bus stop adjacent to the center. As a result of these initiatives., seven new leases were in two years, bringing occupancy to 100%. Sapient accepted an unsolicited offer to sell the center in the Summer of 2020.

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530 Hayden Station Road

Sapient purchased 530 Hayden Station Road, located in Windsor, CT, in February 2020. The acquisition of the 36,000 SF distribution facility from a long-time owner was an instantiation of Sapient's investment thesis (even pre-COVID) that the tailwinds for the industrial sector were substantial and growing. The multi-tenant property was 100% occupied at closing to credit tenants with a weighted average lease term of over two years. The property remains 100% occupied and has generated double-digit average annual cash-on-cash returns.