IPA ARRANGES $58.5M NEW HAVEN COUNTY APARTMENT SALE

HAMDEN, CONN. — Institutional Property Advisors (IPA) has arranged the $58.5 million sale of Broadmoor Apartment Homes, a 498-unit, 419,220-square-foot suburban apartment community in Hamden. The sales price equates to $117,470 per unit. Steve Witten and Victor Nolletti of IPA advised the seller, Fairfield Apple Hill LP, a Delaware limited partnership. Hamden Partners LLC, a New Jersey-based limited liability company, purchased the property. The multifamily community is located at 676 Mix Ave., minutes from downtown New Haven and near Route 10. Built in 1969 and 1970 and renovated from 2006 to the present, Broadmoor Apartment Homes includes six detached six-story midrise apartment buildings with full basements. The unit mix features 66 studios, 288 one-bedroom apartments and 144 two-bedroom units.