Schuster Ventures North With Latest Acquisition

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REW ONLINE – Manhattan-based Silverback Development announced the $12.5 million acquisition of a three-building, 92,000 s/f office complex in Stamford, Connecticut.

The 2.75-acre complex, situated on one of the largest land parcels in downtown Stamford, is located at 777 Summer Street, 733  Summer Street (pictured top) and 612 Bedford Street adjacent to the city’s retail hub, flourishing restaurant row and judicial district.

Silverback was founded earlier this year on the heels of an initial $50 million capital investment. The acquisition site marks the company’s first entrance into a market outside of New York City.

The current tenant roster at the three properties includes Bankwell Financial Group, Wells Fargo, Edward D. Jones and The First Bank of Greenwich.

“As a growing number of people seek to live and work in transit-oriented locales, Stamford has become one of the hottest markets in the Tri-State Area,” said Josh Schuster, founder and managing principal of Silverback Development.

“We’re extremely excited to add these properties to our rapidly expanding portfolio.”

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Silverback Development is a forward-thinking real estate developer, owner and investor with a reputation for establishing solid partnerships and transforming properties into successful income producing and profitable assets.

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