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Norwich Apartment Complex Acquired In Nearly $7M Transaction

September 29, 2016 | Reprints | Unlock Link | Print

Norwich’s Stonington Estates Apartments have been acquired by a New York-based real estate investment firm.

The 71-unit complex located on Stonington Road closed at $6.8 million, equaling $95,775 per unit, and was purchased by Yonkers, New York-based Trion Holdings.

Constructed in 2005, Stonington Estates sits adjacent to the Preston town line and is within 5 miles of both Foxwoods and Mohegan Sun resort casinos. Amenities include a tennis court and fitness center, and some units having vaulted ceilings and fireplaces.

Chozick Realty marketed the property on behalf of the owner, HPI Stonington LLC, and procured the buyer.