MARCUS & MILLICHAP COMPLETES $21.65 MILLION APARTMENT PORTFOLIO SALE
NEW LONDON AND GROTON, CONN. — Marcus & Millichap has completed the sale of a two-property, 327-unit multifamily portfolio for $21.65 million. Squire One Apartments is a 171-unit community located at 11 Anthony Rd. in New London. It comprises 11 buildings situated on 8.79 acres. Willow Pond Apartments is a 156-unit community located at 45 South Rd. in Groton. Situated on 10.15 acres, the property consists of six buildings. Both communities feature private patios or balconies, barbecue and picnic facilities, and a recreation area and playground. Steve Witten and Victor Nolletti of Marcus & Millichap’s New Haven, Conn., office represented the sellers, Squire One Associates LP and Prescott Square LP, as well as the buyer, Landings Capital & Development. Acquisition financing was placed with Freddie Mac. The portfolio traded at a per-unit price of $66,208.