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Boston & New England  + New England  + Apartments  | 

FPA Multifamily Pays $121M for Connecticut Portfolio

Institutional Property Advisors (IPA), a division of Marcus & Millichap, finalized the sale of the Central & Southeast Connecticut Portfolio, a four-property, 693-unit multifamily portfolio spanning New Haven, Hartford and New London counties. The portfolio traded for $121 million.

The properties include New Cambridge, 208 units in Bristol; Silvertree, a 180-unit asset in Wallingford; Peppertree, a 205-unit property in Groton; and Huntington Ridge, 100 units in Norwich. All are located near major employers, such as General Dynamics Electric Boat, ESPN, Pfizer, Bristol Hospital, and Lawrence + Memorial Hospital.

“This 100% market-rate suburban portfolio is located in the most resilient segment of Connecticut’s multifamily market where well-located Class B to B+ assets continue to consistently deliver high occupancy, steady rent growth, and strong cash flow,” said Victor Nolletti, IPA executive managing director investments.

Nolletti, along with IPA’s Eric Pentore and Wes Klockner, represented the seller, Sun Equity Partners, and procured the buyer, FPA Multifamily LLC.

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Inside The Story

IPA's Nolletti

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition