Groton Townhome Complex Sells to NYC Investment Firm

Groton Townhome Complex Sells to NYC Investment Firm
News| August 29, 2025| Paul Bubny
Boston & New England + Apartment Buildings

Northeast Private Client Group (NPCG) recently closed the $25,400,000 sale of Groton Townhomes, located at 126 Litton Ave., Groton, CT. Managing director Bradley Balletto represented the seller, Groton Ventures LLC of New Jersey, and procured the buyer, Rowin Capital and its affiliate Penlane Real Estate, a private real estate investment firm headquartered in New York City and led by principals Joseph Scherban and Daniel Scherban.

“Groton boasts a diverse, resilient, and growing employment ecosystem with a strong demographic profile,” said Joseph Scherban. “We are excited to be able to provide quality housing to area residents,” said Daniel Scherban.

Groton Townhomes is a 141-unit apartment community totaling 116,460 square feet across 29 buildings on 9.24 acres. The complex includes one-, two- and three-bedroom townhomes and is located minutes from the General Dynamics Electric Boat facility in Groton.

From capital markets and financing trends to development, acquisitions, and property management strategies, Connect Apartments on September 11 in Los Angeles dives into the issues shaping today’s multifamily landscape. Join the experts leading conversations on affordability, innovation, market dynamics, and investment opportunities—all in one day, under one roof. If you want the latest insights that drive decisions in apartments, this is where you’ll find them: www.connectapts2025.com 

Other News

40-Unit Apartment Building in Seattle’s University District Trades for $6M

Seattle & Northwest + Apartment Buildings

Ponderay Apartments, a 40-unit multifamily property located at 5625 15th Ave NE in Seattle’s University District, sold for $6.26 million, equating to $156,625 per unit. Built in 1963, the property totals 21,540 square feet and consists of 22 one-bedroom units and 18 studio apartments. The studios average 478 square feet, while the one-bedroom units average...

Learn more

TruAmerica Pays $120M for Perimeter Center Rental Community

Atlanta & Southeast + Apartment Buildings

TruAmerica Multifamily acquired Bricks at Perimeter Center for $120 million. Clark Ventures was the seller of the 446-unit, garden-style apartment community in Atlanta’s Perimeter Center submarket. Clark paid $69.5 million for the property in 2016. TruAmerica will revamp nearly all of the rooms in the complex, which was built in 2007. The company plans to incorporate...

Learn more

BTI, Bridge Score $109M for Hollywood’s Bread Building

Florida & Gulf Coast + Apartment Buildings

BTI Partners and Bridge Investment Group closed on $109 million in financing for the Bread Building, a multifamily property located in downtown Hollywood, Florida. Cushman & Wakefield arranged, and Greystone provided the Freddie Mac loan for the transaction on behalf of borrowers, BTI Partners and Bridge Investment Group. Cushman & Wakefield’s Equity, Debt & Structured Finance...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up