Photo by Ragesoss | CC BY-SA 3.0

West Hartford’s successful Blue Back Square mixed-use development has been sold to a joint venture, one member of which is also active in downtown Hartford.

Blue Back Capital Partners LLC, a joint venture of Greenwich-based Charter Realty & Development Corp. and Miami-based Rialto Capital, paid $40 million for the 14-year-old development, according to public records.

Santander Bank provided the mortgage for the large property, which is anchored by Crate & Barrel, Barnes & Noble, Cinepolis Cinemas and West Elm, and counts The Cheesecake Factory, Fleming’s Prime Steakhouse and World of Beer among its tenants along with .

Starwood Retail Partners will also be giving up the property’s manager, Robyn Rifkin, who will follow the property to Charter Realty with the sale and retain their job according to local news site We-Ha.com.

Charter Realty owns and manages hundreds of thousands of square feet of commercial real estate in Connecticut, including several West Hartford retail properties, several auto-oriented shopping plazas statewide and downtown Hartford’s 1.27 million-square-foot Front Street mixed-use development.