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AvalonBay Sells Avalon Huntington for $333K-Per-Unit
Inland Real Estate Acquisitions Inc. paid $33 million for Avalon Huntington, a 99-unit apartment complex in Shelton, CT. That works out to a price of $333,333 per apartment.
“While this property is one of the submarket’s signature assets, minor enhancements to kitchen counters, flooring and lighting support a value-add strategy that will enhance investment returns for new ownership,” says Victor Nolletti of Institutional Property Advisors (IPA), a division of Marcus & Millichap.
Built in 2008, the property is located at 100 Avalon Dr. Nolletti and Eric Pentore represented the seller, AvalonBay Communities Inc., and procured the buyer.
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- ◦Sale/Acquisition
