HAMDEN, CT – Marcus & Millichap announced its Institutional Property Advisors (IPA) division has closed the sale of Seramonte Apartments, a 451-unit multifamily community in Hamden, Connecticut. The $63.1 million sales price equates to nearly $140,000 per unit.

Victor Nolletti, a senior managing director of IPA’s Northeast and Florida team, was the lead advisor on the transaction. “Seramonte offers immediate scale and brilliant proximity to the New Haven central business district. Completed between 1965 and 1968 and owned by the same family for over 35 years, Seramonte Apartments provides new ownership with numerous value-add options in a market with one of the lowest vacancy rates in the country,” said Nolletti.

“The property offers the renter community quality amenitized apartment living at a discount to the pricier urban center while still providing the lifestyle that today’s millennials, renters-by-choice, dual occupants, empty nesters and renters-by necessity desire,” added IPA senior managing director Steve Witten.

Nolletti, Witten, IPA associate Eric Pentore, and Wes Klockner, an associate in Marcus & Millichap’s New Haven office, represented the seller, Seramonte Associates LLC, and procured the buyer, Detail Management LLC.

Seramonte Apartments is located on more than 30 acres at 1 Kaye Plaza in Hamden, just off exit 60 on the Merritt Parkway/Route 15. More than 1,000 small businesses focused in the healthcare, medical, precision cable, electronic and aeronautics industries are located in Hamden. Seven institutes of higher learning, including Quinnipiac University, the University of New Haven and Yale University are nearby.

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PHOENIX, AZ – Alliance Residential Company, the nation’s second largest multifamily developer and seventh largest multifamily manager, will be interviewing 1,000 prospective new hire candidates across the nation on Tuesday, April 25 for its “1k in 1 Day” interview initiative.

During the “1k in 1 Day” interview blitz, Alliance will be interviewing potential candidates for open positions in the 32 metropolitan markets it serves throughout the West, Southwest, South-Central, Southeast, Mid-Atlantic and Northeast. Available positions range from on-site associates at more than 300 Alliance communities nationwide, to corporate and investment positions at the 35 regional Alliance offices.

Alliance made the “1K in 1 Day” effort to coincide with National Apartment Association’s apartment careers campaign, which dedicates the month of April to promoting career opportunities in the multifamily industry. To see all available positions and to submit a resume visit www.CareersAtAlliance.com.   

Headquartered in Phoenix, Alliance has proudly been honored as a ‘Best Place to Work’ in several states over the last few years including Arizona, Texas, Georgia and Florida. Alliance sees the value in investing in their associates, even before day one, and offers one of the only dedicated corporate talent acquisition teams in the industry.

“We look for associates who want to be part of a growing industry, have an entrepreneurial spirit and are invested in expanding our company,” said Greta Schneider, vice president of Alliance Talent Management. “Our ability to attract and retain top talent contributes directly to our consistent growth, standard of excellence, entrepreneurial environment and industry-leading initiatives.”

Among the many benefits offered, Alliance associates value the opportunity for advancement within the company. This year alone, Alliance expects to promote over 500 associates. Other benefits include an institutional focus on professional development with Alliance University, rental discounts, sales contests, and — consistently one of the most-appreciated perks — Alliance InStyle, which provides associates with stylish career apparel options from brand-name retailers.

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ARLINGTON, VA – Jefferson Apartment Group announced the acquisition of a 0.61-acre site located in the heart of the Rosslyn-Ballston Corridor of Arlington, Virginia. The site is approved for up to 330 units in a 22-tale luxury high-rise at the corner of Fairfax Drive and North Quincy Street. The urban infill apartment community will have 264 below-grade parking spaces and 8,260 square feet of ground-floor retail. 

The completed project will provide market-leading amenities, including a rooftop resort-style swimming pool with sundeck and dramatic views of Arlington and Washington, DC, a state-of the-art fitness center, a clubroom, a rooftop outdoor lounge with fire pits and multiple grill stations, and 24/7 concierge service.

The residential units will feature top-of-the-market finishes and best-in-class design, including custom-designed cabinetry, quartz countertops, wood flooring, and upgraded fixtures. The street-level retail will include a landscaped plaza with 2,000 sf of outdoor seating area.  The property will be built and maintained to LEED Gold standards and is expected to break ground in late 2017.

“The new community will be an exciting development project that will meet the strong demand for housing with close proximity to local jobs, recreation and entertainment in the Rosslyn-Ballston market,” said Jefferson Apartment Group president Jim Butz. “We reckon residents will be thrilled with the modern design aesthetic of the apartments and the lifestyle and numerous amenities they offer.”

The property is located less than a quarter mile from the Ballston Metro Station (Orange & Silver Lines) and has a Walk Score of 96 (Walker’s Paradise). The site provides a prime corner location on one of the main arteries of the R-B Corridor and is one of the most visible intersections of the Ballston neighborhood, which offers multiple premier dining, shopping and entertainment options in the surrounding blocks and within walking distance of the site. The location also offers simple access to the major office employment nodes of Ballston and Virginia Square, as well as the District of Columbia, Tysons Corner, and Reston submarkets, via the Silver Line and I-66.

The project is being built in partnership with Mitsui Fudosan America, Inc., who is providing equity to the project. “Our strategy has been to form relationships with local partners who share our long-term view and goal of developing best in class assets. We are delighted to be partnering with Jefferson Apartment Group,” said John Westerfield, CEO of MFA.

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