December 13, 2018 Comments Off on IPA Arranges Trade in CT’s Farmington Valley Views: 2239 New York News, Tri-State Area New York

IPA Arranges Trade in CT’s Farmington Valley

Marcus & Millichap’s Institutional Property Advisors division has arranged the sale of the 164-unit Avon Place Apartments, part of 188-unit Avon Place Condominiums. Located in the Farmington Valley town of Avon in Hartford County, CT, the apartments sold for $24 million.

IPA’s Victor Nolletti, Eric Pentore and Wes Klockner, senior associate with Marcus & Millichap, represented the seller and procured the buyer, The Clairmont Group LLC.

“Intimate knowledge of the Hartford County marketplace and prior experience handling fractured condo executions were extremely helpful in closing this transaction,” said Nolletti, who leads IPA’s Northeast team.

“Avon is a desirable high-barrier-to-entry suburban location with an award-winning school system in proximity to major area employment drivers and West Hartford Center, one of New England’s premier lifestyle centers,” added Pentore.

Built in 1973 on more than 46 acres, Avon Place includes three brick residential buildings and a clubhouse. Units average 1,165 square feet.

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