Hartford Multifamily High-Rise Exclusively Listed by Institutional Property Advisors in Connecticut
HARTFORD, Conn., March 19, 2021 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the exclusive listing for sale of Capitol View Apartment Homes, a 10-story, 264-unit apartment building with 13,294 square feet of commercial space located steps from the heart of the central business district in Hartford, Connecticut. The price is open bid and the purchase is subject to the assumption of in-place debt.
“The offering presents investors with a strong value-add opportunity,” said Victor Nolletti, IPA executive managing director. “Hartford has become one of New England’s most sought-after multifamily investment markets and this signature apartment building provides residents with easy highway access and impressive Capitol Building, Connecticut River, and downtown skyline views. Also, it is one of the market’s few doorman-style buildings.” Nolletti, and IPA’s Eric Pentore, first vice president, and Wes Klockner, senior associate, are representing the seller.
Located across the street from The Hartford and Aetna at the gateway to the West End and Asylum Hill neighborhoods, the property is minutes from West Hartford Center, Blue Back Square and Westfarms Mall. Nearby employers include Travelers, The Phoenix Companies, XL Insurance, Accenture and Infosys. The Connecticut State Capitol, University of Connecticut School of Law, University of Saint Joseph, University of Hartford, Trinity College and the University of Connecticut are nearby. The property is easily accessible from interstates 84 and 91, Connecticut Route 9, U.S. Route 5 and Connecticut Route 15/Merritt Parkway. Hartford Union Station, which provides service to Amtrak and the Hartford Line, is within easy walking distance. Constructed in 1955 and renovated between 2002 and 2013, Capitol View Apartment Homes has a community lounge, fitness center, concierge, elevators, garage, and gated parking. The average unit size is 542 square feet.
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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