An 88-unit apartment community in Haddam has sold for $27 million, according to brokerage firm JLL.
Blueway Commons, at 3 Brookes Court, was developed by Old Saybrook-based Elm Tree Communities and sold June 17 to Middletown-based RAK Realty. JLL represented the seller.
The Class A multifamily community was completed in two phases between 2023 and 2025, according to JLL. The 6.47-acre property includes five two-story residential buildings containing 78 market-rate apartments and 10 workforce housing units, with a mix of one- and two-bedroom floor plans.
JLL said the property reached 99% occupancy shortly after completion. Amenities include a clubhouse, fitness center, outdoor kitchen and 148 surface parking spaces.
Founded in 1977, RAK Realty is a family-owned real estate company that owns and manages apartment properties primarily in Middletown, with additional holdings in Norwich and Cromwell, according to the company’s website.
