Cambridge Apartments, 2209-2225 Main St. - Bridgeport, CT

Hartford, CT Rich, Matt and Kurt Cawley of United Multi Family (UMF) sold several multifamily properties with 600 plus units in the Hartford and Bridgeport markets, and currently have another 300 plus units pending to close.

The recent increase in values in the Connecticut multifamily market is being driven by low interest rates and demand by outside investors being priced out of red-hot markets in Boston and New York City. With offices in both locations UMF has access to the most active and qualified buyers resulting in higher prices for the sellers represented.

Included in the transactions are the 179 units (mostly studios) known as the Cambridge Apartments located at 2209-2225 Main St. in Bridgeport that sold for $8.525 million ($47,626 per unit). The Wethersfield portfolio totaling 135 units along with the 50 units on Sisson Ave. and the 52-unit HAP contract deal on scattered sites highlighted the Hartford transactions.

UMF looks to expand its services to include the representation of office and retail owners in the sale of their properties throughout Conn.