Newly Delivered Greater Hartford Apartments Trade for $27M
JLL Capital Markets arranged the $27-million sale of Blueway Commons, an 88-unit multifamily community in Haddam, CT. Managing directors Jon Bryant, John Flaherty and Steve Simonelli represented the seller, Elm Tree Communities. The buyer was RAK Realty.
Blueway Commons, located at 3 Brookes Ct., was completed in two phases between 2023 and 2025. The Class A property in the Greater Hartford submarket achieved 99% occupancy shortly after completion.
“RAK Realty was ultimately chosen given their local ownership and certainty of execution,” said Bryant. “Blueway Commons’ rapid lease-up and Class A construction quality in a supply-constrained submarket made it an exceptional investment opportunity in Connecticut’s dynamic multifamily market.”
Connecticut’s multifamily market continues to demonstrate resilience, with Greater Hartford experiencing 24% rent growth and maintaining 95% occupancy over the past five years, according to JLL. Haddam’s restricted new supply and strong demographic fundamentals create favorable conditions for multifamily investment in the region
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout