Bloomfield, CT Institutional Property Advisors (IPA), a division of Marcus & Millichap, completed the sale of The Arbors at Brighton Park, a 132-unit multifamily asset located at 627 Brighton Park Way. The property sold for $26.85 million.
“Completed in 2016, The Arbors at Brighton Park is a stabilized class A community with significant room for revenue growth,” said Victor Nolletti, senior managing director and lead advisor for the IPA Northeast team. “The asset is less than 1.5 miles from Bloomfield town center and less than 15 minutes from Blue Back Sq. in West Hartford.”
Nolletti, assisted by teammates Wes Klockner, senior associate with Marcus & Millichap and Eric Pentore, IPA first vice president, represented the seller, Bloomfield Realty Partners LLC and procured the buyer, an affiliate of Paredim Partners LLC.
The Arbors at Brighton Park is situated on 14 acres. Nearby regional employers include Cigna, United Technologies, Hartford Financial Services Group, Aetna, St. Paul Travelers, and Hartford Hospital. The University of Hartford, Trinity College, the University of Connecticut Law School and 800-acre Penwood State Park are all within five miles.