Simsbury, CT – Dorset Crossing Drive

Equity raised

>>>>Simsbury, CT – Dorset Crossing Drive
Simsbury, CT – Dorset Crossing Drive Cogress 2019-01-04T11:19:27+00:00

Project Description

Acquisition of a Class A, 168 units, 2016 vintage MF complex, light renovation, increase NOI, and sale after 60 months.

Dorset Crossing Drive, Simsbury, Hartford County, Connecticut

Year launched

2017

Expected duration

60 Months

About the neighborhood

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Simsbury is a suburban town in Hartford county, Connecticut, approximately 15 miles north east from Hartford – the capital of Connecticut. The population of Hartford county is estimated at 900,000 residents, out of which approximately 25,000 reside in Simsbury. The annual median household income in the asset submarket is estimated at around $113,000, approximately double the national average of $55,000. Hartford county offers above average life quality, abundance and diverse employment, access to retail chains, dining and entertainment options. The school system in the asset submarket are considered above average comparing to greater Connecticut and nationally. Simsbury’s high schools are ranked 9thin Connecticut and attract quality tenants. The combination of location, high skilled quality work force, economic incentives, and high quality of life attract large employers such as General Electric, United Technologies, Cigna, United Healthcare, Aetna and others.

About the sponsor

CS Acquisitions Group was founded in 2004 and is based in Lakewood, NJ. The group specializes in the acquisition, renovation, and management of assets with value-add potential. Across the years the group has gained a reputation with it’s investors base thanks to it’s hands-on approach in renovation and execution of value add investments. By executing successful renovation plans, increasing management efficiencies, and reducing operational costs, the group has achieve asset appreciation over time. Since the founding of the group it has acquired approximately 16 multifamily assets totaling approximately 2,100 residential units, out of which it holds and manages about 11 assets totaling 1,900 units, mostly in CT, KY, and IN. The assets are managed by the group’s HQ based asset managers, and local property managers. One of two JV with CS Acquisitions

The opportunity

Acquisition of a Class A, 168 units, 2016 vintage MF complex, light renovation, increase NOI, and sale after 60 months.

Other projects by the sponsor