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B3 Holdings Pays $117M for Three-Property Residential Portfolio in CT, RI
B3 Holdings, LLC, has acquired a three-property, 481-unit multifamily portfolio in CT and RI for $117 million (an average of $243,243 per unit).
Victor Nolletti, Eric Pentore and Wes Klockner of Institutional Property Advisors (a division of Marcus & Millichap) represented the seller, Brookfield Asset Management, and procured the buyer, B3 Holdings LLC.
The assets included in the portfolio sale are:
- Winchester Lofts, 158 units in New Haven, CT
- 1111 Stratford Apartment Homes, 128 units in Stratford, CT
- River Lofts at Ashton Mills, 195 units in Cumberland, RI.
“Diverse demand drivers, strong location, asset quality and commutability to major employment hubs, coupled with residents’ continued preference for lower density living near urban centers, will continue to drive these assets’ operations,” said Nolletti.
Since January 2022, the IPA Northeast team has closed over 4,100 units totaling more than $800 million.
Photo: River Lofts at Ashton Mills
- ◦Sale/Acquisition
