April 19, 2019
Rick Chozick and Steve Pappas of Chozick Realty Inc., have facilitated the $14.35 million sale of the 128-unit student apartment complex, Willington Oaks located at the University of Connecticut (UCONN). With 64 one-bedroom flats and 64 two-bedroom townhouses the complex has a student bed capacity of 384 beds proximate to the state’s flag ship university.
Chozick Realty represented the seller, Willington Oaks LLC as well as procured the buyer, TC NY Associates LLC.
Willington Oaks had recently undergone updates including all new boilers, roofs, windows, septic systems and connection to municipal water. With the properties location and unit mix it is popular with undergraduate students and routinely maintains an occupancy of at or close to 100%.
In the UCONN market alone, Chozick Realty has transacted 1,354 units, representing 18 property transfers since 2011. This is the third time they have represented the sale of Willington Oaks Apartments.