Hartford-based real estate investment company Intertown Realty Co. paid $2.5 million for a 21-unit West Hartford apartment building in February.
Concord Apartments LLC sold the nearly century-old, brick-sided apartment building at 704 Farmington Ave. to a limited liability company controlled by Intertown Realty Co. owner Jeffrey A. Reiner, of Farmington.
“This acquisition is a testament to our commitment to the town of West Hartford,” said Jackie Mozzicato, Reiner’s daughter and manager of Intertown.
The acquisition brings the company’s portfolio to 550 apartments.
The 21,498-square-foot apartment building is directly adjacent to two other apartment buildings that share identical architectural features.
Intertown has managed one of these, a 12-unit building at 700 Farmington Ave., since 2001, Mozzicato said.
Mozzicato said her family had long ago let the prior owners of 704 Farmington Ave. know Intertown would be interested if the property went up for sale. The recent sale was handled directly, without the building ever going on the open market, she said.
Mozzicato said the prior owners had done a great job with upkeep and updates.
The principals of Concord Apartments LLC are Timothy J. Arborio, of Old Saybrook, and Peter J. Arborio, of Wethersfield. Attempts to reach a representative of Concord Apartments were not immediately successful.
