Hartford Tops In Apartment Sales

[HartfordTycoon]

Very encouraging news from the HBJ that demonstrates how our rental apartment market is seen as ripe for investment. Hartford County was much stronger than the rest of the state in this regard. Looks like the housing slump may result in better options becoming available for renters in our area.

Hartford Business Journal Article

In one fell swoop, 870 Hartford apartments recently changed hands for a $60.2 million price tag. The sale was just one example of how Hartford dominated the state in apartment sales in 2007.

HBJ Photo/Laura Schreier

The apartment building at 30 Gillett St. is among the multi-family properties recently purchased by Marks Group. The group brought up more than 800 units for a total of $60.2 million.

Hartford

[The Voice of Reason]

They did a follow up article on the Marks group.

http://www.hartfordbusiness.com/news4514.html

The article says they are after 50% This may raise rental rates, but the key thing is that a major investor is interested in putting millions into Hartford for the long term.

here is a snip from the aticle

A New-York based investor, the Marks Group, has been quietly buying up apartments in the city, and has assembled a multifamily portfolio of more than 2,000 apartment units to date.

According to Boston-based Warren Group and city records, the investor closed on about 15 properties. The company

[The Voice of Reason]

http://www.courant.com/news/local/hc-ctren...0,4101301.story

Kind of a useless article from the Courant. but it has MAPS!!! ok so what can I say. the guy only owns 5% thus far, and the realtor mentioned his goal was 50% so thats pretty impressive. he has a great deal more to buy! and another $650 million to spend if prices are relevent.

makes me think 50% is crap

http://www.courant.com/news/local/hc-renta...4414073.graphic

[HartfordTycoon]

http://www.courant.com/news/local/hc-ctren...0,4101301.story

Kind of a useless article from the Courant. but it has MAPS!!! ok so what can I say. the guy only owns 5% thus far, and the realtor mentioned his goal was 50% so thats pretty impressive. he has a great deal more to buy! and another $650 million to spend if prices are relevent.

makes me think 50% is crap

http://www.courant.com/news/local/hc-renta...4414073.graphic