Photo courtesy of Pearce Real Estate

One of New Haven’s higher education institutions sold a collection of student housing buildings it owns to a well-known local landlord for $7.4 million.

Affiliates of Netz Capital Management bought 490-492 Prospect St. and 411 Mansfield St. from Albertus Magnus College, according to a warranty deed filed with the New Haven town clerk’s office.

The three buildings are two blocks from the Albertus Magnus campus in the city’s Prospect Hill neighborhood. The college paid $5 million for them in 2019 according to city property records.

Chris Nolan and Carl Russell of Pearce Real Estate represented the college, while Netz was represented by Frank Micali of Capitalize 360 Group LLC. of Rocky Hill.

According to Pearce, Netz will lease the building back to Albertus Magnus for 10 years.