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Properties

Waterford Commons
WATERFORD COMMONS
MANCHESTER, CT


 
Description

Construction Completed: January 1999

Construction Cost: $28.7 Million

Improvement Cost: N/A

Sale Price: $35.6 Million

Sale Date: May 2003

IRR: 19.6%
A 303 unit apartment complex located in suburban Hartford, Connecticut. Amenities include a clubhouse, indoor pool, fitness center and tennis courts.

Strategy

Acquired land at below market cost and developed apartments in supply constrained market. The property was stabilized and professionally managed to maximize cash flow and value.

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Charter Capital Management, Inc.