Jeffrey Dunne and Christopher Leonard of CBRE’s New York Institutional Group collaborated with Gene Pride of CBRE’s Private Capital Group and Mike Stone of CBRE’s Hartford office in representing Westgate HH LLC, an entity controlled by Capmark Financial Group Inc, in the sale of West Gate Town Homes in New Haven, Connecticut for $12,250,000.
The purchaser was Eagle Rock Advisors LLC, which has partnered with the UOB Group in launching UOB Eagle Rock Multifamily Property Fund LP.
West Gate Town Homes is a 135-unit townhome community on the northwest side of New Haven, Connecticut.
Pride commented, “The demand for West Gate Town Homes was significant, with over 100 investors demonstrating interest in the offering and more than a dozen offers to purchase the asset from buyers located in four different states and two countries outside the U.S.
“Capmark Finance did an excellent job of positioning the property for sale by completing a stalled renovation program and stabilizing the occupancy prior to closing.”
