Institutional Property Advisors Closes 294-Unit Multifamily Asset in Connecticut
NEW HAVEN, Conn., Jan. 26, 2021 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Westville Village Apartments, a 294-unit apartment complex in New Haven, Connecticut.
“New Haven’s ongoing growth in the educational, biotech and medical sectors continues to drive multifamily investment in and around the city,” said Victor Nolletti, IPA executive managing director. Nolletti and team members Eric Pentore, first vice president, and Wes Klockner, senior associate, represented the seller and procured the buyer.
Constructed in 2008 on eight acres, the property is within walking distance of New Haven’s Westville Village neighborhood. The apartments have open-concept floor plans with cathedral-style windows, walk-in closets, and full-sized washers and dryers. Community amenities include a clubhouse, modern fitness center, billiards, and outdoor courtyards.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com