December 21, 2016
GAIA Real Estate of New York led an international investment group of four partners in the acquisition of five multifamily properties in Stamford, CT. Sellers Building and Land Technology and the Lubert-Adler Real Estate Funds came away from the transaction with $395 million, or approximately $327,800 per unit.
The transaction ranks as the largest for multifamily in southern Connecticut since the recession. The 1,214-unit portfolio consisted of:
- Postmark Apartments, 301 Commons Park South
- 111 Harbor Point, 11 Towne St.
- Vault Apartments, 120 Towne St.
- Key at Yale & Towne, 110 Towne St.
- Lofts at Yale and Towne, 200 Henry St.
Danny Fishman, GAIA managing partner, indicated the quality of the portfolio and proximity to Manhattan were prime draws. He indicated his firm could be in the market for additional Harbor Point apartments.
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