AVA Stamford at 50 Forest St. in Stamford, Connecticut — Courtesy: JLL
By Joshua Burd
Brokers in JLL’s Morristown office have inked the sale of an 18-story, 306-unit luxury apartment tower in downtown Stamford, Connecticut.
In a news release Monday, the firm said it represented AvalonBay Communities Inc. in the sale of AVA Stamford at 50 Forest St. Pacific Urban Residential acquired the property for an undisclosed price, marking its second investment in the East during the past 90 days.
The JLL capital markets team included Jose Cruz, Stephen Simonelli, Kevin O’Hearn, Andrew Scandalios, Michael Oliver, Mark Mahasky and Grace Braverman.
“AVA Stamford attracted multiple investors, including both institutional capital and private buyers given the strategic location and potential upside of the asset,” Cruz said, noting that the property was 95 percent occupied at closing.
Completed in 2001, AVA Stamford is within walking distance of restaurants, shops and the Metro North and Amtrak train stations, the news release said. The tower features a mix of one-, two- and three-bedroom units averaging more than 1,000 square feet, all of which are equipped with in-unit washers and dryers and walk-in closets.
JLL also highlighted amenities such as an outdoor heated pool, fitness center, resident clubhouse with TV lounge and kitchen, covered parking and an attached private park with tennis courts.
