Investors Buy Another Student Apartment Complex Near UConn

Investors have purchased another student apartment complex near the University of Connecticut’s main campus in Storrs, adding to a string of sales in the past 18 months. The 76-unit Renwood Apartments was purchased for $4.3 million by Renwood Apartments LLC of Waterbury, according to Hartford-based Chozick Realty, which represented the seller, 175-35 OAP Holdings LLC of Maryland.

Renwood  includes 32 one-bedroom and 44 two-bedroom units and 46 garages.
Broker Rick Chozick told me the new owners don’t plan any immediate renovations to the 35-acre property.

Chozick said investor activity near the UConn campus is strong because there is limited off-campus apartment options. The student population also is expected to grow, now that the state has approved $1.5 billion “Next Generation Connecticut Initiative” with an emphasis on science, technology, engineering and math studies.

New apartments are being added to the area in the Storrs Center, mixed-used development on the southern edge of the UConn campus.

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Interview with Kevin Regan of REAP Partners

REAP Partners’s primary investment focus is on medium sized apartment complexes in New England. They strive to provide their investors with peace of mind derived from acquiring apartment buildings that produce high income from steady, reliable cash flows and managing them to ensure a high quality rental experience for their customers.

REAP Partners was founded in 2012 by real estate investors Kevin R. Regan and Peter L. D’Amato. Prior to launching REAP Partners, Kevin and Pete working independently acquired and rehabbed a total of 18 multi-family properties.

 

The following video is an interview of Kevin on their recent $2,000,000 purchase of 54 Poquonock Ave in Windsor, CT
 

 

If you'd like more information about investing with REAP Partners, Click Here to contact me and I will connect you with Kevin Regan.

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