CHESHIRE, CT – Blue Vista Capital Management announced the close of its acquisition of a 300-unit Class-A multifamily development in Cheshire, Connecticut. The acquisition was made in partnership with Eastpointe LLC.
The newly acquired development project will be comprised of eight 3-story and one 4-story garden style apartment buildings. The buildings will offer a range of studio, one, two and three-bedroom options to prospective residents. In addition to the living spaces, the development will feature a 7,500 sf clubhouse with a fitness center, seasonal swimming pool, co-working spaces, an outdoor dog park and a guest suite.
Moreover, the location of the development provides easy commuting between New Haven, Hartford and Fairfield Counties. The development is part of Stone Bridge Crossing, a new master-planned community which will include for sale townhomes, a retail center hosting national and local retailers, senior housing, restaurants, a hotel, and a gas station.
This acquisition reflects Blue Vista s proven strategy of developing high-quality multifamily in undersupplied markets backed by strong demand drivers, said Brandon Goetzman, Managing Principal and Co-Head of Equity Group at Blue Vista. We are pleased to further our partnership with Eastpointe to deliver modern, large-scale apartments to Cheshire s growing and highly affluent population.
We are pleased to partner with Eastpointe for the third time to deliver a top-tier residential option in Chesire and look forward to continuing to identify value-add multifamily opportunities across the Connecticut market and beyond, said Alexa Weston-Shanahan, Vice President at Blue Vista.
The acquisition represents Blue Vista and Eastpointe s third multifamily investment in Connecticut following the development of The Pointe at Dorset Crossing in Simsbury and The Preserve at Great Pond in Windsor.