JLL Capital Markets has arranged the $27 million sale of Blueway Commons, an 88-unit multifamily community in Haddam, CT. Managing directors Jon Bryant, John Flaherty and Steve Simonelli represented the seller, Elm Tree Communities, in the transaction. The buyer of the property is RAK Realty.
Blueway Commons is located at 3 Brookes Ct. in Haddam and was delivered in two phases between 2023 and 2025. The community is described as a Class A multifamily property situated within the Greater Hartford submarket. According to information provided, the asset reached 99% occupancy shortly after completion, reflecting rapid lease-up for the newly delivered units.
Bryant noted that RAK Realty was selected as the buyer based on its local ownership profile and perceived certainty of execution. He added that the property’s combination of swift leasing performance, Class A construction quality and location in a supply-constrained submarket contributed to its positioning as an attractive investment opportunity within Connecticut’s multifamily sector.
JLL reports that Connecticut’s multifamily market continues to show resilience, with the Greater Hartford area recording 24% rent growth and maintaining 95% occupancy over the past five years. Within this context, Haddam’s limited new supply and what are described as strong demographic fundamentals are seen as supportive conditions for ongoing multifamily investment in the region.
The Blueway Commons sale underscores investor interest in stabilized, newly delivered Class A assets in markets where rental housing supply remains constrained. With both property-level performance indicators and market-level metrics trending favorably, the transaction reflects continued confidence in the Greater Hartford multifamily market, according to JLL.
