Institutional Property Advisors (IPA), a division of Marcus & Millichap, recently closed the sale of The Place at Catherine’s Way, a 303-unit multifamily asset located in Manchester, CT near Hartford. The buyer was Afton Properties and the price was not disclosed.
Victor Nolletti, IPA’s Executive Managing Director Investments stated that “The property is a 100% market-rate garden-style asset with exceptional in-place operational trends including strong historic occupancy located in an area with high barriers to entry for multifamily rental markets.” He added that Eric Pentore and Wes Klockner from IPA represented the seller Beachwold Residential during this transaction.
Built between 1998 and 1999, this property offers easy access to Interstates 84 91 384 as well as being conveniently close to Greater Hartford employment hubs and Downtown Hartford.
