SUNDERLAND — Ownership of Squire Village Apartments has changed hands.
Squire Village Sunderland LLC, a single-purpose entity structured by Corridor Ventures for the transaction, purchased the property from Squire Village Apartments LLC for $13,350,000 on Dec. 5. The office manager at Squire Village confirmed the complex was sold by Jeffrey Shapiro. Corridor Ventures is a real estate acquisition and management company in Avon, Conn., according to Hagan Brown, who said he is the co-owner.
He said Corridor Ventures is a student housing and multifamily owner/operator in New England.
“We’re excited be a part of the community and we look forward to good things,” Brown said.
He said the ownership group also includes Stone Investment Properties, in Middletown, Conn., which proposed the property to Corridor Ventures.
“We’re excited to get our management teams in place,” Brown said.
He said there are plans to invest in the property’s exterior and interior, and residents will also be asked what their priorities are. He said there are roughly 250 residents in 111 apartments. He said about 80 percent of residents are graduate students or undergraduates at the nearby University of Massachusetts Amherst. Current leases will remain in effect.
Brown said the property’s two employees will remain, and one or two may be added.
Reach Domenic Poli at: dpoli@recorder.com or
413-772-0261, ext. 262.