Institutional Property Advisors (IPA), a division of Marcus & Millichap, has announced the sale of Manor House, a two-story multifamily property consisting of 125 units in Bloomfield, Connecticut. The property was built in 1963 and spans over 15 acres with convenient access to Route 178 for easy transportation to Downtown Hartford, the University of Hartford, and the University of Connecticut. Victor Nolletti and Eric Pentore from IPA along with Wes Klockner and Ross Friedel facilitated the transaction on behalf of CT Park Holdings LLC who sold it to MLKRECAP Acquisitions LLC.
According to Nolletti: “There is high demand for vintage assets like Manor House that offer assumable financing options and potential for value appreciation.” Pentore added: “The strong rent growth and low vacancy rates make Hartford metro area an attractive destination for investment capital.”
This recent sale by IPA showcases their expertise in brokering successful transactions within this market segment.
