FPA Multifamily Acquires Four-Property Multifamily Portfolio In Connecticut For $121 Million

FPA Multifamily has acquired a multifamily portfolio consisting of 693 units across four properties located at 1175 Farmington Avenue, 181 Knollwood Drive, 278 Meridian Street, and 21 Henry Street in the Bristol, Wallingford, Groton, and Norwich markets in Connecticut. The total transaction amount reached $121 million, equating to a price per unit of $174,603.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $121,000,000
• Units: 693
• Price Per Unit: $174,603
• Buyer: Gregory A. Fowler - FPA Multifamily
• Seller: Sun Equity Partners
• Brokers: Victor Nolletti, Eric Pentore & Westley Klockner - Institutional Property Advisors

This acquisition marks a significant transaction in the Connecticut real estate market, facilitated by Institutional Property Advisors, who represented both sides in the deal. The involvement of experienced brokers Victor Nolletti, Eric Pentore, and Westley Klockner underscores the professionalism in executing this high-value transaction.