Institutional Property Advisors Brokers $63 Million Newly Constructed Luxury Apartment Complex Sale in Windsor, Connecticut
August 04 2021 - 3:10PM
Business Wire
Institutional Property Advisors (IPA), a division of Marcus
& Millichap (NYSE: MMI), announced today the sale of The
Preserve at Great Pond, a newly constructed, 230-unit luxury
apartment complex in Windsor, Connecticut. The property sold for
$63 million.
“The Preserve at Great Pond is an outstanding new construction
developed and recently stabilized by Eastpointe LLC in connection
with Chicago-based real estate private equity firm Blue Vista
Capital Management,” said Victor Nolletti, IPA executive managing
director. “The asset’s superior amenities and design make it a
market leader in the Greater Hartford suburban submarket. The
property received The Connecticut Apartment Association’s Best Curb
Appeal Award in 2020. Situated immediately off Day Hill Road, the
property's location provides access to employment centers in
Hartford and Western Massachusetts.” Nolletti and IPA’s Eric
Pentore and Wes Klockner represented the seller, Eastpointe Great
Pond Owner LLC and procured the buyer, Preserve Ventures LLC.
Settled in 1633, Windsor is located on the Connecticut River,
six miles north of Hartford, and is easily accessible from State
Route 195 and Interstate 91. Penwood State Park and Talcott
Mountain State Park are nearby, and shopping is a few minutes away
at Day Hill Village Shoppes and North Central Square. Employers
such as Amazon and Pratt & Whitney are within proximity while
the University of Hartford, the University of Connecticut and
Central Connecticut State University are all in the vicinity.
Bradley International Airport is 10 miles away.
Completed in 2020 on 12 acres, The Preserve at Great Pond has 16
floor plans and a unit mix of studios, one-, two- and three-bedroom
units with views of the woods and pond. Apartments have nine-foot
ceilings and balconies or patios. Community amenities include a
heated pool, dog park, fitness center and electric car charging
station.
About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus
& Millichap (NYSE: MMI), a leading commercial real estate
services firm in North America. IPA’s combination of real estate
investment and capital markets expertise, industry-leading
technology, and acclaimed research offer customized solutions for
the acquisition, disposition and financing of institutional
properties and portfolios. For more information, please visit
www.institutionalpropertyadvisors.com.
About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals
located throughout the United States and Canada, Marcus &
Millichap is a leading specialist in commercial real estate
investment sales, financing, research and advisory services.
Founded in 1971, the firm closed 8,954 transactions in 2020 with a
value of approximately $43 billion. Marcus & Millichap has
perfected a powerful system for marketing properties that combines
investment specialization, local market expertise, the industry’s
most comprehensive research, state-of-the-art technology, and
relationships with the largest pool of qualified investors. To
learn more, please visit: www.MarcusMillichap.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210804006032/en/
Gina Relva, Public Relations Director
Gina.Relva@marcusmillichap.com
Marcus and Millichap (NYSE:MMI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Marcus and Millichap (NYSE:MMI)
Historical Stock Chart
From Jul 2023 to Jul 2024