HARTFORD, CONN. — CB Richard Ellis (CBRE) has brokered the sale of a 436-unit apartment portfolio located in suburban Hartford for $42.7 million. The portfolio consists of Glastonbury Center, a 105-unit community located in Glastonbury; Ribbon Mill, a 104-unit community located in Manchester; Colonial Village, a 104-unit community located in Plainville; and Loomis Manor and Brooksyde, two communities located in West Hartford that total 123 units. The properties consist of garden-style buildings constructed between 1945 and 1965, except for Ribbon Mill, which is a converted mill building originally constructed in 1908. Jeffrey Dunne and Matthew Innes of CB Richard Ellis’ New York Institutional Group, along with Michael Stone of CBRE’s Multi-Housing Group, represented the seller, Equity Residential. The trio also procured the buyer, The Kamson Corporation, and worked with Michael Riccio of the Hartford office of CBRE | Melody to arrange $34.25 million in Freddie Mac financing for the purchase.
CBRE BROKERS $42.7 MILLION APARTMENT PORTFOLIO SALE
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