The four properties are Colonial Village--71 Messenger St., Plainville; Glastonbury Centre--28B Nanel Dr., Glastonbury; Loomis Manor & Brooksyde Apartments--133 and 133-A1 Loomis Dr, West Hartford; and Ribbon Mill--150 Pine St., Manchester. The portfolio totals 436 units. The seller was undisclosed.
Meanwhile, Midway Investors, LLC secured a $14.1 million loan to pick up Cambridge Estates and Meadow Ridge--at 4B Plumtree Dr.-- both in Norwich. The properties, are 94% and 92% leased with one and two bedroom apartments ranging between 900 and 1100 square feet. Rent ranges from $816 to $1070 per month, according to rental websites. The loan has a floating rate of 6.8% capped financing on a seven-year term Freddie Mac capped ARM program. The interest rate floats over 1-month LIBOR. CBRE did not return inquiries to GlobeSt.com by deadline.
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