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| Clemens Place Apartments Hartford, CT |
HARTFORD, CT – Institutional Property Advisors (IPA), a
multifamily brokerage division of Marcus & Millichap serving the needs of
institutional and major private investors, has arranged the sale of Clemens
Place Apartments, a 597-unit multifamily complex in Hartford, Conn. The
revitalized 1920s-style community commanded a selling price of $29.5
million.
IPA
executive directors Steve Witten and Victor Nolletti advised the
seller, Intown West Associates Limited Partnership and Westtown LLC. The buyer is UOB Eagle Rock Multifamily
Property Fund LP.
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| Steve Witten |
“Hartford
has become a highly sought after market for multifamily investment in New
England,” says Nolletti. “There is no
finer example of an architecturally renovated, well-stabilized and respected
apartment community than Clemens Place Apartments.”
“Clemens
Place is poised for significant rental growth and appreciation in a
historically robust—high demand—apartment market,” adds Witten. “This
exceptionally well-maintained asset provides residents with a hip urban address
in Hartford’s high-growth West End neighborhood.”
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| Victor Nolletti |
Known locally as “The Pride of Hartford,” the property
consists of 597 units: 595 apartments and two commercial spaces in 42 carefully
renovated buildings, 31 of which are on the National Register of Historic
Places.
The 17-acre site is graced with stone reliefs, ornamental
streetlights, brick, stone and ivy-lined walkways, wrought iron balconies and
tasteful landscaping.
Clemens Place Apartments is one block from Interstate 84 and
within walking distance of the University of Connecticut Law School, Hartford
College, Mark Twain House, Hartford Seminary and numerous restaurants and
shops.
For a complete copy of the company’s news release, please
contact:
Ben Johnson,
Marketing Director
(925) 953-1736
1 comment:
Thank you for sharing. I have been looking for townhouses in Hartford, CT.
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