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nstitutional Property Advisors (IPA), a division of Marcus & Millichap, has announced the sale of a four-property multifamily portfolio in Central and Southeast Connecticut for $121 million. The 693-unit portfolio spans New Haven, Hartford, and New London counties.

    Victor Nolletti, Executive Managing Director at IPA, led the sales team representing Sun Equity Partners, the seller. FPA Multifamily LLC, a national real estate investment firm, acquired the properties with IPA's assistance.

    "This suburban portfolio is situated in Connecticut's most resilient multifamily market segment," said Nolletti. "Well-located Class B to B+ assets consistently deliver high occupancy, steady rent growth, and strong cash flow."

    The four properties include New Cambridge (208 units), Silvertree (180 units), Peppertree (205 units), and Huntington Ridge (100 units). They are located near major Connecticut employers such as General Dynamics Electric Boat and ESPN. Each property offers a mix of studio, one-bedroom, and two-bedroom apartments.

    This sale highlights strong investor demand for quality suburban multifamily assets in the Northeast, particularly in areas with durable job markets and limited new supply. IPA's track record of handling large-scale multifamily portfolios has been reinforced by this transaction, solidifying its presence in Connecticut and New England markets.