Two industrially zoned properties in Windsor hosting office buildings and having a combined size of 13.7 acres recently sold for $1.2 million.
That is far under the value placed on the properties by the town’s assessor.
The Real Group II LLC, of Windsor, sold the 415 and 425 Day Hill Road properties to Day Hill Road LLC, in a $1.2 million deal logged by the town April 28, according to town records.
The 9.7-acre property at 415 Day Hill Road hosts a 20-year-old, 54,236-square-foot, brick-sided office building. The town appraised the property value at $5.3 million.
The neighboring 4-acre property at 425 Day Hill Road hosts a 21-year-old, 24,960-square-foot, brick-sided office building. Its value is appraised at $2.2 million by the town.
The buyer – Day Hill Road LLC – lists Salvatore Campofranco, of New Canaan, as its principal. Campofranco is the founder of real estate investment group Luzern Associates. The company has raised more than $55 million and has invested in projects valued at approximately $204.6 million, according to its website.
Attempts to reach Campofranco were not immediately successful Wednesday.
The selling limited liability company lists Craig W. Ferraina, as its principal in state business records. Those records list Ferraina’s home and business addresses as the same location in Windsor. Attempts to reach Ferraina were also not immediately successful.
Earlier this week, HBJ reported on another deal between Ferraina and Campofranco. A separate LLC managed by Ferraina sold a 62,080-square-foot industrial property at 770-790 Marshall Phelps Road to Campofranco for $5.4 million, property records show.
