CBRE/New England’s Capital Markets team in conjunction with CBRE’s Stamford Capital Markets team today announced the sale of Greenfield Village in Rocky Hill, Connecticut for $13.65 million. The seller interest comprised of 151 units in a 231-condominium community.
CBRE multi-housing experts Simon Butler, Biria St. John, Jeff Dunne and Gene Pride exclusively represented the seller and procured the buyer, an affiliate of The Simon Konover Company of West Hartford, CT.
“We are pleased to have facilitated the sale of Greenfield Village on behalf of our client who acquired the community in 2000 as part of a larger portfolio acquisition and marked their exit from the Greater Hartford apartment market,” said CBRE/NE’s Butler. “The sale marked the successful conclusion to an investment that yielded strong results for the seller, while at the same time offering the buyer strong yields on a good forward basis and the potential for a value-add execution.”
Greenfield Village was built in 1965 and is comprised of 56 two-story garden-style buildings. The community consists of 231 condominium units and the seller owned 151 of these containing 79 one-bedroom and 72 two-bedroom townhouses with an average size of 778 SF. The community is located just off Interstate 91 via Exit 24, and offers superior access to numerous different employment centers in the surrounding area.
About CBRE/New England
CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. Please visit our website at www.cbre-ne.com. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The company has approximately 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.
