Five Mansfield apartment complexes, predominantly used as off-campus housing by University of Connecticut students, have been purchased for over $16 million by a Holyoke, MA real estate company.
The property sale, one of the biggest Mansfield has seen in years - topping the $11 million sale of Carriage House Apartments in April - added another $40,187.50 to the Town's coffers when it closed Oct. 4, Mansfield Town Clerk Mary Stanton said.
Storrs Acquisition, LLC paid seller RRE VIP Mansfield, LLC, of Hartford, $16,075,00 for Club House, Maplewood, Oakwood, Millbrook and Knollwood Apartments, located at 3 Club House Cl., 1 Carleton Rd., 114 South Eagleville Rd., 170 Spring Hill Rd. and 101 South Eagleville Rd., respectively.
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Mansfield Town Assessor Irene Luciano said the sale was an important one for the community.
“Our next reval is in 2014. That sale will be the basis for setting value, Luciano said, adding that commercial apartments have held their value in Mansfield since 2009. "It's hard to argue with the sales," she said.