Skala Partners Pays $8M for 204-Unit Development Site in Farmington

Fairfield, CT-based real estate development group Skala Partners has acquired a 204-unit multifamily development site located on Batterson Park Road in Farmington, CT for $7.8 million.

Jeff Dunne, Simon Butler, Biria St. John, Eric Apfel, Stuart MacKenzie, John McLaughlin and Brian Bowler of CBRE represented the seller, Sovereign Partners, a New York-based real estate investment firm, and procured Skala Partners.

 “There was significant interest in the offering due to Farmington’s strong incomes, dense employment base and undersupply of multifamily product,” said Dunne. “The buyer will benefit greatly from the strong demand for rental product in Farmington and the Greater Hartford region.”

The 10-acre site is located adjacent to the Pond View Corporate Center just one mile from UConn’s School of Medicine. Community amenities at the future multifamily development include a clubhouse, fitness center with yoga, resort-style pool, package lockers, game room, business center, rooftop deck and outdoor dog walk.

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