July 6, 2017
Deal Watch Today

Simsbury's Eastpointe Apts. draw $36.5M

PHOTO | Contributed
PHOTO | Contributed
Eastepoint at Dorset Crossing in Simsbury has sold for $36.5 million.

The 168-unit Eastpointe at Dorset Crossing apartments in Simsbury recently sold for $36.5 million, or $217,000 per unit, brokers say.

Eastpointe Dorset Crossing LLC sold the two-year-old residential community, located just off Hopmeadow Street, to CS Acquisitions Group LLC, according to exclusive broker Institutional Property Advisors, a division of Marcus & Millichap. IPA said it brought CS to the buyer's chair.

Built in 2015 by Fairfield developer William R. Finger, Eastpointe won a "Community of the Year" award from the Connecticut Apartment Association the same year.

Units range from 600-square-foot studios to 750- to 850-square-foot one-bedroom and 1,150- to 1,250-square-foot two-bedroom units.

Developers Anthony "Tony" Giorgio, a former college professor, and retired Pratt & Whitney President Karl Krapek, principals in The Keystone Cos., developed Dorset Crossing as a mixed-use development.

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