Institutional Property Advisors closes 114-unit multifamily asset sale

New Britain, CT Institutional Property Advisors (IPA), a division of Marcus & Millichap, completed the sale of The Highrailer, a 114-unit apartment building with 5,600 s/f of ground floor retail.

“Completed in 2026, the property is a notable part of New Britain’s ever-improving downtown area,” said Victor Nolletti, IPA executive managing director investments.

“Niche downtown developments designed to promote retail, walkability, and a more communal living environment continue to thrive in these secondary urban cores,” said Eric Pentore, senior managing director for the IPA team.

Nolletti and Pentore, along with Wes Klockner and Ross Friedel of Marcus & Millichap represented the seller, Jasko Development and procured the buyer.

The Highrailer is located on Main St. just off Rte. 72, with access to Rte. 9. New Britain City Hall is directly across the street, and the New Britain CTfastrak bus rapid transit station is within proximity. The city’s largest employer, The Hospital of Central Connecticut, is nearby, and Central Connecticut State University is within proximity.

The six-story building has an outdoor courtyard with fire pits, grilling stations, and an outdoor kitchen. Additional amenities include a second-story terrace, a fitness center, and a pet spa. The unit mix is studios and one- and two-bedroom apartments. There are laundry facilities on every floor, and 29 units have in-unit washer and dryers. Unit amenities include custom kitchen cabinetry, built-in shelving, and quartz countertops.