RECENTLY CLOSED TRANSACTIONS

Centennial Inn Apartments offer a one of a kind opportunity in the highly affluent community of Farmington, CT to acquire an existing 56 unit rental community with substantial and immediate upside through renovation of additional apartment units within existing buildings on the site. The property was predominately constructed in 1987 as an extended stay, all suites hotel. The four additional buildings on the site have 48 hotel suites containing a bedroom, living room and fully equipped kitchen and 8 single rooms without kitchens. The clubhouse building offers meeting space, laundry facilities, fitness center and community room, providing +/- 6,360 SF of additional development space. These buildings, with their current layout, offer the opportunity to convert, through renovation, an additional 49 units while leaving the location of plumbing fixtures and kitchens more or less unchanged*.  Once completed the Centennial Apartments will offer 105 units in an amenity rich apartment complex, serving a very tight residential market.