Capmark subsidiary sells New Haven residential development
A holding of Capmark Financial Group Inc. sold a 135-unit town house community in New Haven to Eagle Rock Advisors L.L.C. for $12.25 million, CBRE announced Jan. 3.
The West Gate Town Homes complex is one mile from the Merritt Parkway on the northwest side of the city.
The seller, Westgate HH L.L.C., based in Hartford, was represented by Jeffrey Dunne and Christopher Leonard of CBRE Group Inc.’s New York Institutional Group, Gene Pride of the company’s Private Capital Group and Mike Stone of its Hartford office. Eagle Rock Advisors was not represented by any outside broker in the transaction.
More than 100 investors demonstrated interest in purchasing the property and more than a dozen offers were made, Pride said in a prepared statement.
Capmark is based in Horsham, Pa., while Eagle Rock Advisors is based in New York City.