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January 31, 2022

Entity tied to NY finance giant D.E. Shaw buys 352.6 acres in East Granby

Photo | CoStar An aerial photo showing 85 Floydville Road in East Granby.
By Michael Puffer

A limited liability company linked to investment fund D.E. Shaw Group recently paid $3 million for 352.6 acres of mostly agricultural land in East Granby.

River Bend Holdings LLC sold four properties in the town’s south end to Broadleaf Solar LLC in a deal recorded Dec. 30, according to town records. Both limited liability companies track back to larger entities.

River Bend is controlled by Indus Realty Trust, an industrial and warehouse landlord that got its start in Connecticut’s tobacco trade. The company changed its name from Griffin Industrial Realty last year.

In a deed recorded Dec. 30, Broadleaf Solar lists the same address as New York City international investments firm D.E. Shaw Group.

The sale included four parcels that collectively encompass just over 3% of Granby’s 17.7 square-mile area. These include:

·        Map 19, lot 18 – a 186-acre parcel north of Lordship Road.

·        74 Wolcott Road – an 88.1-acre property that includes a 1,808-square-foot, ranch-style house.

·        85 Floydville Road – a 49.5-acre property that hosts two, metal-sided industrial buildings, of 8,910 square feet and 7,200 square feet.

·        Map 14 Lot 1 – a 29-acre property with three tobacco barns.

Attempts to reach a D.E. Shaw representative were not immediately successful.

D.E. Shaw is a multinational investment management firm founded by David E. Shaw in 1988. It launched with $28 million and six employees. As of Dec. 1, D.E. Shaw manages more than $60 billion in assets and employs more 1,900 staff, according to its website. The company is known for developing complex mathematical formulas and computer programs to guide investments.

Since 2005, D.E. Shaw has invested in more than 65 renewable energy projects, including the first offshore wind farm in the U.S., according to the company website. D.E. Shaw says it has built three “industry-leading” renewable energy companies and has a long track record of developing solar and wind projects.

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