Hillcroft at Danbury apartment complex sold for $32.25 million

Hillcroft at Danbury, a 192-apartment complex, has been sold for $32.25 million, or just under $168,000 per unit, by Par Hillcroft LLC to Timberline Real Estate Ventures LLC.

The complex at 10 Clapboard Ridge Road in Danbury includes a clubhouse and fitness center completed in 2014, a community room, pool and playground.

Representing Par Hillcroft and procuring the buyer were Victor Nolletti, Steve Witten, and Eric Pentore of Institutional Property Advisors, a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, along with Wes Klockner of Marcus & Millichap”™s New Haven office.