A family-owned New York City-based real estate company has paid $33.25 million for a 132-unit luxury apartment complex in Bloomfield.
A family-owned New York City-based real estate company has paid $33.25 million for a 132-unit luxury apartment complex in Bloomfield.
The Arbors at Brighton Park, located at 627 Brighton Park Way, was sold by Paredim Communities to Beachwold Residential LLC, according to a land record dated Sept. 29.
Beachwold Residential controls more than 16,000 multifamily units in Connecticut, New Jersey, Virginia, Georgia, Florida, Texas and Tennessee.
In 2018, Paredim Communities acquired the complex for $26.85 million from Bloomfield Realty Partners LLC, according to town records.
Institutional Property Advisors, a division of Marcus & Millichap, brokered the deal.
Built in 2017, the apartment community was developed by the Rohdie Group. The 14-acre property is located 1.5 miles from Bloomfield Town Center and about 6 miles from West Hartford Center and downtown Hartford.
The units feature one-, two- and three-bedroom floorplans with in-unit washers and dryers, walk-in closets and private balconies or patios.
Also, the complex offers a large clubhouse with a business center, gym and a saltwater pool.
Victor Nolletti, executive managing director of investments at Institutional Property Advisors, said the property offers stable returns with potential for operational improvements.
Nolletti, along with colleagues Eric Pentore and Wes Klockner, represented the seller and procured the buyer in the deal.
