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Townhouse-Style Complex Trades for $25.4M in Groton

Photo courtesy of Northeast Private Client Group

A townhouse-style rental complex located near the Electric Boat shipyard in Groton traded for $25.4 million.

New York-based Rowin Capital and its affiliate Penlane Real Estate acquired the 141-unit Groton Townhomes from Groton Ventures LLC of New Jersey.

The property includes 29 buildings totaling 116,460 square feet on a 9.2-acre parcel at 126 Litton Ave.

Bradley Balletto, managing director of Shelton-based Northeast Private Client Group, represented the seller and procured the buyer.

“Groton boasts a diverse, resilient, and growing employment ecosystem with a strong demographic profile,” Rowin Capital’s Joseph Scherban said in a statement.