Buyers Sought For Hartford’s XL Center As General Assembly Opens Bidding For Aging Arena

The Capital Region Development Authority is issuing the “request for proposals” for the purchase of the aging XL Center in hopes of attracting a buyer that would relieve taxpayers, at least in part, of the costs for operating and upgrading the arena. One bidder — Oak Street Real Estate Capital, a Chicago private equity firm — already has stepped forward with an unsolicited bid. A buyer is being sought after CRDA’s recommendation for a $250 million makeover of the arena failed to gain traction in the legislature. State lawmakers, instead, last year required that a sale of the 43-year-old Veterans Memorial Coliseum be explored.

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