Steve Witten and Victor Nolletti of Marcus & Millichap Real Estate Investment Services have arranged the sale of Waterford Commons, a 303-unit luxury multi-family community for $42.775 million ($141,172 per unit).
Witten and Nolletti, both vice president investments and senior directors of Marcus & Millichap's National Multi Housing Group, represented both the seller and the buyer.
"Waterford Commons offered the new owner nominal risk, long-term financial stability and superior location with exceptional demographics," said Witten. "Built between 1998 and 1999, the property is considered to be one of the finest examples of a Class A-quality apartment community in the state."
Located at 669 Tolland Turnpike, the 316,439 s/f apartment community consists of 13 two and three-story buildings on 34.3 acres.
Waterford Commons features a mix of one- two- and three-bedroom gardenstyle and townhome-style units. Interior amenities include vaulted ceilings with skylights, fully equipped modern kitchens, fireplaces, full-size washer/dryers in unit and central air conditioning.