Connecticut

IPA Negotiates Sale of 102-Unit Apartment Complex in Wilton, Connecticut

by Taylor Williams February 25, 2025

WILTON, CONN. — Institutional Property Advisors, a division of Marcus & Millichap, has negotiated the sale of a 102-unit apartment complex in Wilton, located in southern Connecticut’s Fairfield County. Avalon Wilton on River Road is an eight-building complex that was built in 1996 and renovated in 2012. The property offers 64 townhome-style residences and 38 garden-style units in two- and three-bedroom floor plans that have an average size of 1,552 square feet. Amenities include a pool and outdoor grilling and dining stations. Victor Nolletti, Eric Pentore, Wes Klockner and Ross Friedel of IPA represented the seller, Virginia-based REIT AvalonBay Communities, in the transaction and procured the buyer, AEW Capital Management.

February 25, 2025

Acquisitions Connecticut Northeast Retail

Marcus & Millichap Brokers $14M Sale of Shopping Center in Winsted, Connecticut

by Taylor Williams February 25, 2025

WINSTED, CONN. — Marcus & Millichap has brokered the $14 million sale of The Shops at Ledgebrook, a 105,499-square-foot shopping center in Winsted, located northwest of Hartford. Grocer Stop & Shop anchors the center, which was built on 14 acres in 1989, with a 52,704-square-foot store. Other tenants include Webster Bank, Sophia’s Pizza Restaurant and China Delight. Joseph French Jr. and Kodi Traver of Marcus & Millichap represented the New York-based seller in the transaction and procured the New Jersey-based buyer. Both parties were private investors that requested anonymity.

February 25, 2025

Acquisitions Connecticut Northeast Retail

Colliers Arranges $2.9M Sale of Retail Building in Mystic, Connecticut

by Taylor Williams February 3, 2025

MYSTIC, CONN. — Colliers has arranged the $2.9 million sale of a retail building in Mystic, located in southern coastal Connecticut. The building at 49-53 Main St. formerly housed the Bank Street Book Store and totals 9,000 square feet, according to LoopNet Inc. John Cafasso of Colliers represented the buyer, jeweler Lux Bond & Green, which also plans to occupy the property, in the transaction. Judi Carcausa of William Pitt Sotheby’s International Realty represented the undisclosed seller.

February 3, 2025

Acquisitions Connecticut Multifamily Northeast

IPA Negotiates Sale of 175-Unit Apartment Complex in New Haven, Connecticut

by Taylor Williams January 29, 2025

NEW HAVEN, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Orange Gardens, a 175-unit apartment complex in New Haven. The property comprises 13 buildings that were constructed on a 6.2-acre site between 1963 and 1969. According to Apartments.com, units come in studio, one- and two-bedroom formats. Wes Klockner, Eric Pentore, Victor Nolletti and Ross Friedel of IPA represented the undisclosed seller in the transaction and procured the buyer. Both parties were limited liability companies that requested anonymity.

January 29, 2025

Connecticut Loans Multifamily Northeast

Kriss Capital Provides $33.5M Construction Loan for Multifamily Project in Portland, Connecticut

by Taylor Williams January 27, 2025

PORTLAND, CONN. — Kriss Capital, a New York-based private equity firm and bridge lender, has provided a $33.5 million construction loan for a 130-unit multifamily project in Portland, a southern suburb of Hartford. The four-story building will be part of a larger development known as Brainerd Place and will include 11,000 square feet of commercial space. John Harrington of HKS Real Estate Advisors arranged the loan on behalf of the developers, Bright Ravens Development and DiMarco Group. Completion is slated for spring 2026.

January 27, 2025

Connecticut Loans Northeast Retail Vermont

Cronheim Mortgage Arranges $9M Refinancing of Two New England Shopping Centers

by Taylor Williams January 24, 2025

DERBY, VT. AND WALLINGFORD, CONN. — New Jersey-based financial intermediary Cronheim Mortgage has arranged the $9 million refinancing of two New England shopping centers. The first property is Shaw’s Plaza, an 80,193-square-foot, grocery-anchored center in Derby, Vt., that was originally built in 1968. The second property is Kohl’s Plaza, a 159,600-square-foot shopping center in Wallingford, Conn., that is also home to Aldi, Harbor Freight and Sally Beauty. Brandon Szwalbenst, Dev Morris and Andrew Stewart of Cronheim arranged the debt on behalf of the owner, National Realty & Development Corp. The direct lender was not disclosed.

January 24, 2025

Acquisitions Connecticut Industrial Northeast Self-Storage

Aphorio Carter Buys Data Center in Trumbull, Connecticut, for $10M

by Taylor Williams January 13, 2025

TRUMBULL, CONN. — Aphorio Carter, a data center investment firm and division of Carter Funds, has acquired a colocation facility in Trumbull, located in southern coastal Connecticut. The facility, which was originally built in 1960, spans 8.2 acres and comprises two data center pods and one disaster recovery pod. In addition, the 227,552-square-foot property features a power capacity of 15 megawatts and was leased to five tenants at the time of sale. The seller was not disclosed.

January 13, 2025

Acquisitions Connecticut Multifamily Northeast

IPA Negotiates Sale of 158-Unit Apartment Complex in New Haven, Connecticut

by Taylor Williams January 7, 2025

NEW HAVEN, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of 200 Fountain, a 158-unit apartment complex in New Haven. Built in 1963, the property offers studio, one-, two- and three-bedroom units and amenities such as a resident lounge, library, fitness center and a business center. Victor Nolletti, Eric Pentore, Wes Klockner and Ross Friedel of IPA represented the seller and procured the buyer, both of which were limited liability companies, in the transaction.

January 7, 2025

Acquisitions Connecticut Industrial Northeast

Marcus & Millichap Brokers $7.1M Sale of Industrial Property in East Haven, Connecticut

by Taylor Williams January 2, 2025

EAST HAVEN, CONN. — Marcus & Millichap has brokered the $7.1 million sale a 210,314-square-foot industrial property in East Haven that serves as the headquarters of Town Fair Tire. The 38.5-acre property features 207,000-square-foot distribution center with 20,000 square feet of office space, a freestanding call center and a 176-stall trailer parking/storage area. Harrison Klein, Jim Koury and Alex Quinn of Marcus & Millichap represented the seller, Mellen East Haven Associates LLC, in the transaction and procured the undisclosed buyer.

January 2, 2025

Acquisitions Connecticut Multifamily Northeast

NEPCG Negotiates $9.9M Sale of Bridgeport Commons Apartments in Connecticut

by Taylor Williams December 24, 2024

BRIDGEPORT, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the $9.9 million sale of the 86-unit Bridgeport Commons Apartments in southern coastal Connecticut. The property consists of two buildings that were originally built between 1967 and 1970 and house nine studios, 73 one-bedroom units and four two-bedroom units. Brad Balletto, Rich Edwards and Robert Paterno of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

December 24, 2024

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