300 Woodland Ave. Bloomfield/Photo courtesy of Newmark

A New Jersey real estate developer expanded its Connecticut portfolio with the acquisition of 18 industrial properties in the Interstate 91 and Bradley International Airport distribution corridor.

The 566,000-square-foot portfolio in Bloomfield and Windsor was acquired by Vision Real Estate Partners of Mountain, Lakes, New Jersey in a joint venture with a fund managed by Rialto Capital Management.

Newmark’s Tri-State Capital Markets Executive Managing Director Kevin Welsh, Managing Director Brian Schulz, Associate Jason Emrani, and Transaction Manager Maria Betancourt cooperated with Senior Managing Director Art Ross of the firm’s Connecticut office to arrange the transaction.

Newmark’s capital markets team led by Senior Managing Director Ari Schwartzbard sourced the acquisition financing.

Known as the Bloomfield logistics portfolio, the properties are 100 percent leased and are located within the growing I-91 industrial market serving major corporations such as HomeGoods and Home Depot. 

“We are excited to expand our investment and operational footprint into the Hartford market. “This acquisition further diversifies our portfolio into the industrial sector, a space we will be very active in moving forward,” said Ross Chomik, managing partner at VREP, in a statement.

Vision Real Estate Partners invests in a variety of commercial real estate categories, and its Connecticut holdings include 545 Long Wharf Drive in New Haven.