Institutional Property Advisors brokers two multifamily sales in CT

Windsor, CT Institutional Property Advisors (IPA), a division of Marcus & Millichap dedicated to serving the company’s institutional clients, have completed the sale of Rivers Bend Apartment Homes, a 432-unit multifamily asset.

“Rivers Bend is a value-add asset that draws upon a renter pool of nearly 24,000 people with average annual household income over $120,000,” said Victor Nolletti, IPA executive managing director investments. “All direct-entry homes highlight this asset, which is positioned for a significant value-add execution, including unit upgrades, operational upside through consolidation of management operations, stabilized market economic vacancy, and recapture of organic loss-to-lease.” Nolletti and IPA’s Eric Pentore and Wes Klockner represented the seller and procured the buyer, Charger Ventures.

The property is located along the Farmington River, close to I-91, within a short commute of employers such as Voya Financial, Amazon, United Technologies, Cigna, and SCA Pharmaceuticals. Residents are close to shopping, dining, and entertainment in nearby Hartford, Simsbury, Avon, and West Hartford. Commuter rail service is two miles away at Windsor Station and Bradley International Airport is driveable.

Constructed in 1973 on 81 acres, Rivers Bend Apartment Homes features 33 one- and two-story residential buildings with a mix of 324 two-bedroom/one-and-a-half-bath townhomes and 108 one-bedroom/one-bath garden-style apartments. Shared amenities include a new community center, an updated fitness center, walking trails, boating and fishing access, and a resort-style outdoor swimming pool. Apartments have private direct entries, individual patio areas with sliding glass doors, front courtyards, and backyards.

Institutional Property Advisors also arranged the sale of Pomeroy Place Apartments, a 42-unit apartment complex in Meriden, Conn.

“Niche new construction deals continue to garner significant interest from the investor base,” said Pentore. Pentore, along with the investment team of Klockner, Ross Friedel and Nolletti represented the seller and procured the buyer.

The property’s location between Hartford and New Haven places residents within commuting distance of both cities via I-91 and the Amtrak station in nearby Wallingford. Shopping is close by at Wallingford Plaza and Meriden Mall. Nathan Hale Elementary School, Francis T Maloney High School, Middlesex Hospital and Wesleyan University are within proximity.

Completed in 2025, Pomeroy Place Apartments has a unit mix of studios and one- and two-bedroom apartments. Units have washers and dryers, dishwashers, quartz kitchen counters, and hardwood flooring. Community amenities include structured garage parking and a fitness center.