Actual property agency co-led by former Patriots linebacker buys Farmington improvement website
Posted On March 2, 2023
A Fairfield development firm co-led by a former New England Patriots football player has acquired a Farmington development site already approved for a mixed-use apartment project.
The 10-acre site is located adjacent to the Pond View Corporate Center office park at 74-76 Batterson Park Road. It has been purchased for $7.8 million by Skala Partners, a real estate investment firm led by brothers Aristides and Niko Koutouvides.
Niko Koutouvides is the former linebacker for the New England Patriots and a handful of other NFL teams. He and his brother aren’t new to Greater Hartford development. They’ve previously developed 24 N Main, an 18-unit, boutique apartment property in West Hartford that they still own.
Both brothers graduated from Plainville High School.
The seller of the Farmington development site was New York-based Sovereign Partners, which more than a year ago aired its intentions to develop a market-rate apartment community on-site with a large courtyard that included a pool and cabana. The town last April approved Sovereign Partners’ plan to build 204 apartments in a new building behind two existing office properties at 74-76 Batterson Park Road.
As part of the recent sale, Sovereign Partners maintained ownership of the two office buildings, according to Aristides Koutouvides.
Aristides Koutouvides said he and his brother bought the property with a pre-approved site plan. They may make some minor modifications to that plan, but nothing that should require them to need additional town approvals.
“They won’t be wholesale changes,” Aristides Koutouvides said.
The goal would be to try to break ground over the next six months on a market-rate, luxury apartment development that would be among the best rental units the town has to offer, Ari Koutouvides said.
CBRE brokered the sale.