September 8, 2017

Simsbury apartment complex sells for $21M

An 88-unit luxury apartment complex in Simsbury has sold for $20.9 million to a New York-based realty investment firm.

Beachwold Partners LP bought the Mill Commons Apartment property for about $237,500 per condo-styled unit. Institutional Property Advisors (IPA) handled the sale.

The property is located at 1 Millers Way in Simsbury within walking distance of Simsbury Center's dining, shopping and recreational attractions. The Shoppes at Farmington Valley, Bishops Corner, West Hartford Center/Blueback Square, Westfarms mall and Connecticut routes 10, 44 and 185 are nearby.

Victor Nolletti, senior managing director leading the Northeast for IPA's Northeast and Florida team, along with Steve Witten, senior managing director, and Eric Pentore, first vice president investments, represented the seller, Mill Commons LLC, and procured the buyer.

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