Farmington-based Skytree Investments recently paid $2.22 million for a roughly 40,000-square-foot, mixed-use commercial building in downtown Middletown and another $1.48 million for a 9,554-square-foot office building along Route 6 in Farmington.
With these purchases, the nearly two-year-old real estate investment firm now owns a $7.5 million portfolio of six office and mixed-use properties in Farmington, Middletown, Simsbury, Winsted and New London, said Ryan Deasy, 36, who is partnered in Skytree with Michael Doherty, 30.
An 8,100-square-foot Farmington office building along the Farmington River sold for $1 million in a transaction recorded Dec. 16.
Pitkin Basin Realty sold the 71-year-old building on 1.6 acres at 128 Garden St. to D&D Properties, of West Hartford.
Michael Doherty of West Hartford and Ryan Deasy of New Britain are the principals of D&D Properties. Doherty said Thursday the building was 75% leased at purchase.
The plan is to continue leasing, he said.