Northwoods Apartment Associates LLC is purchasing the portfolio along with Chestnut Apartment Associates LLC. The deal was facilitated by Steve Witten and Victor Nolletti of New Haven-based Marcus & Millicap. Marcus & Millichap did not return queries by deadline.
Chestnut Hill is located at 5 Town Colony Dr. The 314-unit complex sits on 29.44 acres and consists of seven three-story buidings. The property's apartments range in size from 715 sf to 1556 sf. Northwoods apartments is at nearby 1 Dove Ln. with 336-units which range in size from 719 sf to 990 sf. The five three-story buildings sit on 17.37 acres between the Interstate 91 and Route 217.
Amenities for the property include billiards room, library, tennis and racquetball courts, Jacuzzi, swimming pool, fitness facility and a clubhouse. Marcus & Millichap is based in New Haven and represented the buyer and the seller.
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