The Regency Carriage Portfolio is located in Hartford’s highly desirable Asylum Hill neighborhood, widely recognized as one of the city’s strongest and most resilient rental markets. The portfolio consists of 459 residential units, featuring a desirable unit mix of 87 studios, 320 one-bedroom , 48 two-bedroom, and 4 three-bedroom apartments which aligns well with the area’s deep and consistent renter demand. These properties are all located within close proximity of each other with most being adjacent properties, providing an ease and efficiency of management.
Utilizing Hartford’s unique tax structure, all units in the portfolio are designated as condominiums, greatly reducing the real estate tax rates. This will be outlined in more detail in this report.
Asylum Hill benefits from its proximity to Hartford’s central business district, major employment anchors, healthcare institutions, and public transportation, making it a preferred residential location. With such employers in the Asylum Hill neighborhood as Aetna Insurance, The Hartford Insurance Group, Saint Francis Hospital Complex and those in the adjacent Central Business district, this area is second to none.
The assets have benefited from proactive ownership and ongoing capital investment, resulting in a well-maintained physical condition across the portfolio. With over $2,000,000 invested in Unit Upgrades and $500,000 in general building and HVAC upgrades since 2020. These enhancements provide a strong foundation for stable cash flow from day 1, while offering future ownership the opportunity to further drive return growth through the continuation of the apartment upgrade program in process..
The Regency Carriage Portfolio with its size and scope represents an opportunity to enter the Hartford market on scale, acquiring a premier grouping of well located assets from which to grow a substantial portfolio