HARTFORD, CONN. — Locally based Chozick Realty has brokered the $12.9 million sale of a portfolio of eight buildings totaling 176 units in Hartford. The properties are all located near the Aetna Insurance campus in Hartford’s downtown area. Approximately half of the units were recently renovated. Steve Pappas and Jordan Pinto of Chozick Realty represented the seller and procured the buyer in the deal. Both parties were regional investment firms.
DARIEN, CONN. — JLL has arranged $165 million in construction financing for Phase II of The Corbin District, a six-acre mixed-use development in downtown Darien. JLL Capital Markets represented the sponsor, locally based Baywater Properties, to secure a $102 million loan from Barings and $63 million in C-PACE financing from Counterpointe SRE. Michael Gigliotti, Evan Pariser and Robert Tonnessen led the JLL Capital Markets team that arranged the total financing package. Once complete, The Corbin District will comprise 11 buildings featuring 112 apartments, as well as 78,810 square feet of retail …
MERIDEN, CONN. — KeyBank has provided $51.5 million in financing for a conversion project in Meriden, located about halfway between New Haven and Hartford. The sponsor, Trinity Financial, will use the funds to redevelop the former manufacturing facility of musical instrument maker Aeolian Co. into a mixed-income community. The historic building is located at 85 Tremont St. and was originally constructed in 1887. Once converted, the property will comprise 82 apartments. Units will be subject to a range of income restrictions, with 11 residences to be rented at market rates. …
LEDYARD, CONN. — Value Asset Management (VAM), a property management subsidiary of Value Cos., has taken over management services at Fox Run Apartments in the southeastern Connecticut town of Ledyard. This is the first community in VAM’s portfolio to be located in Connecticut. Fox Run Apartments includes 172 units in studio-, one- and two-bedroom floor plans. According to Apartments.com, Fox Run Apartments was constructed in 1965. VAM has introduced an apartment rehabilitation program and rebranded the property website as part of a three-year capital improvements plan for the community.
DANBURY, CONN. — Northeast Private Client Group (NEPCG) has negotiated the sale of Willow Park Apartments, a 21-unit property in Danbury, 50 miles northeast of New York City. The asset traded hands for $5.2 million. Jeff Wright and Rich Edwards of NEPCG represented the seller and procured the buyer in the deal. Both parties requested anonymity. According to Apartments.com, Willow Park Apartments offers one-bedroom units that span 575 square feet.
HARTFORD, CONN. — Chozick Realty Inc. has negotiated the sale of The Mill at Still River Apartments, a 39-unit community in the northwest Connecticut of Winsted. The Mill at Still River Apartments was originally constructed as a mill in 1887. The property was converted into apartments in 1986. Units feature exposed brick walls and beams. The asset traded hands for $4 million. Steve Pappas of Chozick Realty represented the buyer and seller in the transaction. Both parties were undisclosed.
HARTFORD, CONN. — Northeast Private Client Group has negotiated the sale of a portfolio of two buildings totaling 52 units in Hartford. Taylor Perun and Cameron Formica of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the deal. The portfolio includes a building at 17 Marshall Street that features 12 studios and 13 one-bedroom units, and a building at 50 Gillett Street that houses 16 one-bedrooms, eight two-bedrooms and three commercial spaces.
BRIDGEPORT, CONN. — Northeast Private Client Group (NEPCG) has negotiated the $4 million sale of two buildings totaling 38 units in Bridgeport. Brad Balletto, Rich Edwards, Bob Paterno and Jeff Wright of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the deal. The first property, Beers Apartments, features 18 units. The second property, Wayne Studios, has 20 units.
NORWALK, CONN. — Cushman & Wakefield has brokered the $12 million sale of a 2.3-acre development site located at 370 West Ave. in downtown Norwalk, a southern coastal city of Connecticut. RMS Cos. purchased the site from Norwalk Hospital. The property formerly housed a YMCA. Al Mirin, Kate Schwartz, Matthew Torrance, Jim Fagan, Gerry Lees and Maureen O’Boyle of Cushman & Wakefield represented the seller in the deal. The buyer plans to develop a six-story, 204-unit building on the site.
GRISWOLD, CONN. — Locally based brokerage firm Chozick Realty has arranged the $30 million sale of Pleasant View Estates, a 102-unit community in Griswold, near the Connecticut-Rhode Island border. Rick Chozick of Chozick Realty brokered the deal. The buyer and seller were not disclosed. Pleasant View Estates offers two-bedroom units with an average size of 1,036 square feet and three-bedroom townhouses that range in size from 1,363 to 1,693 square feet. Amenities include a clubhouse, game room, playground and walking trails.
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