Commercial real estate investment company GreyHill Group has acquired Union Place Apartments, a 69-unit, Class B apartment building located in Hartford, CT, for $5.9 million.

 Both GreyHill Group and the seller were represented by Victor Nolletti of Institutional Property Advisors and Westly Klockner of Marcus & Millchap.

The 1910-constructed property, formerly a mill, sits at 64-82 Union Place in the city’s historic district. The apartment building features spacious loft apartments that appeal to contemporary tastes. Each apartment has a unique layout with exposed wood beam ceilings and brick walls.

“There’s major upside in the building, and we anticipate changing the way it is viewed by the community,” said Mo Bloorian, GreyHill Group’s managing partner. “The downtown area offers a young and energetic working tenant base, and we expect to appeal to them by giving them a superior product. Our plan is to create a better living space for our tenants by putting money into the building.”