Greyhill Group expands portfolio with $7.5 million acquisition of 63 unit multifamily property

New Britain, CT GreyHill Group, a rapidly growing, commercial real estate investment company headquartered in New York, has completed the acquisition of The Bleu, a 63-unit, multifamily property located at 1300 and 1412 East St. The transaction marks a significant addition to GreyHill's diverse portfolio. GreyHill Group acquired The Bleu at a purchase price of $7.5 million.

GreyHill Group executives said that the property presented an attractive investment opportunity because of its prime location in New Britain and its strong rental market. The Bleu’s units represent a mix of comfortable and modern living spaces that cater to the housing needs of diverse residents.

The company also recently purchased a 69-unit building at 69 Union Pl. in downtown Hartford, CT. The properties are 20 minutes apart.  

"This exciting acquisition further strengthens GreyHill's Connecticut presence," said Moshe Bloorian, managing partner of GreyHill Group. "Our investment in The Bleu perfectly aligns with our strategy of acquiring well-located properties that carry the potential to create long-term value.”

"What makes this acquisition even more exciting is that GreyHill Group owns another property just 20 minutes away,” said Bloorian. “This proximity allows us to leverage our expertise and resources effectively, and helps to ensure an exceptional living experience for our residents." 

GreyHill Group's expanding portfolio – which includes both multifamily and industrial properties across the tri-state area and nationwide – reflects the company's expertise in syndicating, maintaining, and managing multiple asset types.