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IPA Arranges $62M Sale of Suburban CT Apartments
Marcus & Millichap’s Institutional Property Advisors (IPA) division arranged the sale of a two-property, 518-unit multifamily portfolio in the popular Westlake District of Middletown, CT. Middletown Brooke and Middletown Ridge (pictured) sold for a combined $62.65 million.
Victor Nolletti, executive director and lead advisor for the IPA Northeast team, worked with first VP Eric Pentore and senior associate Wes Klockner in representing the seller, Fairfield Midtown Ridge LP and Fairfield Midtown Brooke LP. They also procured the buyer, Hamilton Zanze and Company.
Built in the late 1980s, the two properties are located a mile and a half from Interstate 91, and two miles from Route 9 in Middletown, giving residents convenient access to both Hartford and New Haven. Hamilton Zanze’s Anthony Cianciolo said his company would “continue to target multifamily investment opportunities in the Northeast, and expect to further expand our presence in the coming months.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
