Greenwich landlord Urstadt Biddle Properties Inc. says it bought a pair of retail properties in its backyard for $25.7 million in cash and credit.
Both were sold by a Greenwich family that built them more than 40 years ago. Urstadt officials said the real estate investment trust had coveted the properties for years.
One is West Putnam Plaza, a 9,300-square-foot retail strip center on West Putnam Avenue that is anchored by a Stop & Shop Supermarket.
Cos Cob Plaza, on East Putnam Avenue, is a 15,000-square-foot retail and office center that includes men’s clothier Jos A. Bank and other retailers.
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The properties were purchased subject to an existing $7.7 million mortgage, with a 6.8 percent fixed rate, the REIT said. It matures in August 2016.
