10/3/2008

Two Connecticut multi-families fetch $75M

by Drew Smith
The Chestnut Hill Apartments and Northwoods Apartments, two multi-family properties totaling 650 units in Middletown, Conn., have been sold for a total sales price of $75 million.

Steve Witten and Victor Nolleti of Marcus & Millichap's New Haven office represented both parties in the transaction.

The Chestnut Hill property is comprised of seven, three-story buildings at 5 Town Colony Dr. The complex has 314 units and sits on 29.44 acres. The Northwood property is located at 1 Dove Lane and contains 336 units. It is made up of five, three-story buildings on 17.37 acres. The two properties sold for $115,385 per unit.

Address: Chestnut Hill at 5 Town Colony Dr., Middletown, Conn.
- Northwoods Apartments at 1 Dove Lane, Middletown, Conn.

Size: 650 units

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Filed Under: Multi-Family

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