Updated Oct 29, 2024
ER Properties Fund LLC Acquires Westgate Apartments In West Hartford For Multifamily Portfolio
Farmington Ave, West Hartford, CT, 0...
Units
186
Asset Type
MultiFamily
Closing
Nov 22, 2023
About this deal
AI
Westgate Apartments is a 186-unit multifamily community located on Farmington Ave in West Hartford, Connecticut. Built in 1962 on 10 acres of land, the property consists of studio, one- and two-bedroom units, and amenities such as a pool and a fitness center.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: Not disclosed
- Address: Farmington Ave, West Hartford, CT
- Market: West Hartford
- Seller's Rep: Victor Nolletti(Institutional Property Advisors)
- Buyer: ER Properties Fund LLC
Victor Nolletti, along with Eric Pentore and Wes Klockner, from Institutional Property Advisors, which is a division of Marcus & Millichap, represented the seller, BFN Westgate LLC, in the transaction. ER Properties Fund LLC was procured as the buyer for the acquisition of Westgate Apartments.
On the Map
MultiFamily
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West Hartford MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93