Northeast Private Client Group (NPCG) has announced the $25.4 million sale of Groton Townhomes, a 141-unit apartment community located at 126 Litton Avenue in Groton, Connecticut.
Bradley Balletto, Managing Director at NPCG, represented the seller, Groton Ventures LLC of New Jersey, and also secured the buyer, Rowin Capital and its affiliate Penlane Real Estate— a private real estate investment firm based in New York City, led by principals Joseph Scherban and Daniel Scherban.
“Groton boasts a diverse, resilient, and growing employment ecosystem with a strong demographic profile,” said Joseph Scherban. “We are excited to be able to provide quality housing to area residents,” added Daniel Scherban.
Groton Townhomes spans 116,460 square feet across 29 buildings situated on 9.24 acres. The community offers a mix of one-, two-, and three-bedroom townhomes and is located just minutes from the General Dynamics Electric Boat facility, one of the region’s major employers.
