Marcus & Millichap has completed the sale of Pine Rock Townhomes, a purpose-built student housing community in Hamden, CT serving the New Haven area. The 30-unit townhome property traded for an undisclosed price, with the brokerage firm overseeing the marketing process and buyer procurement.
According to Marcus & Millichap, Pine Rock Townhomes addresses a critical need for student housing within the New Haven submarket. Eric Pentore, senior managing director in the firm's New Haven office, noted that the community plays an important role in supporting student housing demand in the area. The property was reported to have strong occupancy at the time of sale.
Wes Klockner, managing director investments with Marcus & Millichap, described Pine Rock Townhomes as a well-maintained student housing asset positioned immediately adjacent to Southern Connecticut State University. The location places residents within close proximity to campus while also providing connectivity to the broader New Haven area.
Pentore, Klockner and fellow Marcus & Millichap professional Ross Friedel jointly marketed the property on behalf of the seller and secured the buyer. Their role encompassed presenting the asset to the investment market and managing the sale process through closing. The identities of the buyer and seller and the transaction pricing were not disclosed.
Pine Rock Townhomes is located at 190 Pine Rock Ave. in Hamden and was originally delivered in 2012. The community underwent upgrades in 2022, further enhancing the property roughly a decade after its initial development. The townhomes are configured with four bedrooms and three bathrooms per unit, offering a multi-bedroom layout suited to the student housing renter base.
The property's immediate adjacency to Southern Connecticut State University positions it as a convenient housing option for students seeking near-campus accommodations. In addition, Pine Rock Townhomes is situated near downtown New Haven, providing residents with access to major employment centers, transportation options and a range of regional amenities. This combination of proximity to a university campus and connectivity to the New Haven urban core underpins the asset's student housing appeal.
The closing of Pine Rock Townhomes adds to the inventory of traded student housing assets in the New Haven submarket, where demand tied to nearby higher education institutions continues to support occupancy. While detailed financial terms were not announced, the sale highlights ongoing investor interest in well-located, institution-adjacent student housing communities.
