Northeast Private Client Group facilitates multiple building transactions

New London, CT Northeast Private Client Group (NPCG) has facilitated the $17.28 million sale of a three-property portfolio located across New London, Conn.

Managing director, investments, Brad Balletto represented the seller, a New Jersey-based investor exiting the Connecticut market, and procured the buyer, a local owner, operating in Central and Eastern Conn. and Central Mass.

The portfolio is comprised of three apartment complexes.

Courtview Square is a 96-unit complex located at 309 Crystal Ave. The complex is comprised of four buildings consisting of 96 one-bedroom one-bath apartments.

Harbortree Apartments is a 28-unit community located at 151-171 Oneco Ave. The community is comprised of five detached buildings consisting of eight studio, 16 one-bedroom one-bath, and four two-bedroom one-bath apartments.

Bristol Apartments is a 12-unit building located at 14 Bristol St. The property is comprised of 12 one-bedroom apartments.

Northeast Private Client Group has also arranged the $1.45 million sale of 95 Pequot Ave. development site, located on 95 Pequot Ave.

Balletto represented the seller, a Connecticut-based investor and procured the buyer, a developer with several projects in RI and MA. 

95 Pequot Ave. development site is a 56-unit shovel-ready development site. The plot spans .83 acres situated less than half a mile from General Dynamics, directly across the street from the Thames River.

In another transaction, Northeast Private Client Group has completed the $1.2 million sale of the Main St. Middletown redevelopment opportunity located on 339 Main St., Middletown, Conn.

Balletto represented the seller and procured the buyer, a regional developer with several completed and in-progress projects in Middlesex and New London counties.

The Main St., Middletown redevelopment opportunity is a site that has been fully permitted for redevelopment and is ready for the new operator to get started immediately. The approved permits allow for the complete rehabilitation of the building.

Converting it to 42 apartment units plus Main St. retail space and amenities.