Connecticut

NORWALK, CONN. — Avison Young has brokered the $17.9 million sale of The Stonefield, a 55-unit apartment building located in the southern coastal Connecticut city of Norwalk. According to LoopNet Inc., the four-story building was constructed on a 3-acre site at 587 Connecticut Ave. in 2016 and offers one- and two-bedroom units. Will Suarez of Avison Young represented the seller, developer EDG Properties, in the transaction and procured the buyer, a group of local investors completing a 1031 exchange. 

GREENWICH, CONN. — A partnership between led by RMR Residential and which includes Chicago-based investment firm Heitman, has purchased two multifamily properties totaling 406 units in the southern coastal Connecticut city of Greenwich. The sales price was $356 million. ARIUM at Greenwich Oaks is a 30-acre, garden-style property that features 134 two-and three-bedroom units and amenities such as a pool, basketball and pickleball courts and a playground. ARIUM at Greenwich Place offers 272 one-, two- and three-bedroom units with private outdoor patios and balconies. The new ownership plans to make capital improvements to both properties.

NEW BRITAIN, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Highrailer, a 114-unit apartment complex in New Britain, located southwest of Hartford. Completed earlier this year, The Highrailer offers one- and two-bedroom units and amenities such as a second-story terrace, fitness center and a pet spa. Victor Nolletti, Eric Pentore, Wes Klockner and Ross Friedel of Marcus & Millichap represented the seller, Jasko Development, in the transaction and procured the undisclosed buyer. The sales price was also not disclosed.

WETHERSFIELD, CONN. — Avison Young has negotiated the $19.1 million sale of Ridge275, a 64-unit apartment building in Wethersfield, located just south of Hartford, that was built in 2019. According to Apartments.com, Ridge275 offers one- and two-bedroom units that range in size from 850 to 1,230 square feet and amenities such as a pool, fitness center, business center and a resident clubhouse. The name of both the seller and the buyer, a Long Island-based developer, were not disclosed.

NEWINGTON, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Millyard at Meadow Commons, a 269-unit apartment complex in Newington, a southern suburb of Hartford. Built in 2025, the property features studio, one-, two- and three-bedroom units and amenities such as a pool, outdoor grilling and dining stations, resident lounge and a game room. Victor Nolletti, Eric Pentore and Wes Klockner of IPA represented the seller and procured the buyer, both of which requested anonymity, in the transaction.