June 10, 2024 – Tim Hines of Horvath & Tremblay has arranged the sale of the Gillett & Farmington Multi-Family Portfolio, in Hartford, Connecticut. Hines exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $5,360,000.
The seven property Gillett & Farmington Multi-Family Portfolio is situated in western Hartford at the border of the West End and Asylum Hill, two of the city’s most desirable neighborhoods. In total, the Portfolio consists of one hundred ten (110) units made up of nine (9), three-bedroom units, thirty-eight (38) two-bedroom units, thirty-eight (38), one-bedroom units and twenty-five (25) studio units. The Properties comprise 100,834 square feet of gross living area in 124,929 square feet of total area on 2.48 acres of land. The Portfolio is centered around the intersection of Gillett Street and Farmington Avenue, between St. Francis Hospital and Hartford Public High School, and is down the street from the popular West End Farmers’ Market. The Properties in the Portfolio are just over a mile from Downtown Hartford and the location offers convenient access to area highways, public transportation, and numerous retail amenities. The Gillett & Farmington Portfolio provided a rare opportunity to acquire a critical mass of well-located, multi-family properties in a supply-constrained rental market.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.