Newly Delivered Greater Hartford Apartments Trade for $27M

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less. JLL Capital Markets arranged the $27-million sale of Blueway Commons, an 88-unit multifamily community in Haddam, CT. Managing directors Jon Bryant, John Flaherty and Steve Simonelli represented the seller, Elm Tree Communities.

The buyer was RAK Realty. Blueway Commons, located at 3 Brookes Ct., was completed in two phases between 2023 and 2025.

The Class A property in the Greater Hartford submarket achieved 99% occupancy shortly after completion. “RAK Realty was ultimately chosen given their local ownership and certainty of execution,” said Bryant. “Blueway Commons’ rapid lease-up and Class A construction quality in a supply-constrained submarket made it an exceptional investment opportunity in Connecticut’s dynamic multifamily market.” Connecticut’s multifamily market continues to demonstrate resilience, with Greater Hartford experiencing 24% rent growth and maintaining 95% occupancy over the past five years, according to JLL.