Multifamily Apartment Complex
Covered Bridge has retained Keen-Summit Capital Partners LLC (“Keen”), as its exclusive marketing agent and real estate broker in its Chapter 11 Bankruptcy for the sale of the real property.
9 Covered Bridge Rd, Newtown, CT
- 210 total units across seven 3-story buildings (30 units each) with one-, two- and three-bedroom layouts on 21.5 acres
- 168 market-rate and 42 affordable units restricted to 80% AMI for 30 years.
- Six buildings complete; final building 80% complete
- Amenities: Clubhouse with a fitness cener, community room and adjacent pool
- Located in Incentive Housing Overlay Zone (IHOZ-10), requiring 20% of units to remain affordable for 30 years as a condition for the certificate of occupancy
- Located near Exit 9 on I-84
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BANKRUPTCY AUCTION
Stalking Horse Offer: $62,000,000 plus assumption or payoff of the PACE Loan of approximately $3,541,500
Minimum Overbid: $63,750,000 plus assumption or payoff of the PACE Loan of approximately $3,541,500
Bid Deadline: November 3, 2025
Auction Date: November 5, 2025
Sale Motion and Bid Procedures are posted in the data room.
