Avalon Stratford Apartment Complex Sold

STRATFORD, CT — Avalon Stratford, a 130-home luxury apartment complex at 1000 Avalon Way in Stratford, has been sold for an undisclosed amount, CBRE announced this week.

The CBRE team of Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin, Travis Langer and Stuart MacKenzie represented the owner, AvalonBay Communities, while also procuring the buyer, Merion Realty Partners, according to a news release.

“We are delighted to have represented AvalonBay in the sale of Avalon Stratford,” CBRE’s Jeff Dunne said. “This is a strategic investment by Merion to whom we sold a separate 250-home apartment community earlier this year in adjacent Shelton, Connecticut. There are obvious operational efficiencies to owning both assets, which bodes well for Merion’s investment as they continue to expand their presence in Connecticut. Despite the ongoing pandemic, we’ve seen tremendous investor demand for quality multifamily assets in the New York City suburbs. The exodus from NYC to the suburbs has benefited many landlords with assets in lower-density areas.”

Avalon Stratford was built in 2014 and features a fitness center, heated pool, BBQ grills, and playground. The property is situated adjacent to the Merritt Parkway (Route 15).