Group Signs Agreement to Acquire The Hartford's Simsbury Campus

Editor’s note: We published this story earlier in the week, but here it is again in case you missed it.

The Silverman Group, a private, family-owned real estate development firm, signed a purchase-and-sale agreement this week to acquire The Hartford’s property at 200 Hopmeadow St.

The deal is expected to close in the fourth quarter of 2015, subject to due diligence and customary closing conditions. Terms of the agreement were not disclosed.

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“We have worked for a year to acquire this property and are excited to become a part of Simsbury’s growth and future development,” said President Blake Silverman in a statement. “We consider the property to be a tremendous redevelopment opportunity for our company and the town of Simsbury as well as the greater Hartford area.”

The purchase-and-sale agreement includes a total of 172 acres, including the office area and farmland north of the office. The Silverman Group plans to implement components of the Form Based Code that was adopted by the town of Simsbury for the property and plans a state-of-the-art mixed-use redevelopment of The Hartford’s Simsbury campus.

The proposed development includes both commercial and residential components.

“We worked closely with representatives of the town of Simsbury throughout the marketing and sales process, including the development of the Form Based Code,” said head of real estate at The Hartford Jahn Marie Surette in a statement. “The Hartford’s goal was to find a buyer that will invest in, and contribute to, the community, and we are pleased The Silverman Group shares that vision.”