Connecticut Multi-Unit Community Sale Closes
JLL Capital Markets today announced the closing of the sale of Vela on the Park, a 209-unit luxury apartment community located in downtown Stamford, Connecticut.
JLL represented the seller, a partnership between a subsidiary of Trinity Financial, Inc. and Berkshire Residential Investments. Carmel Partners acquired the asset.
The 19-story Vela on the Park consists of studios, one- and two-bedroom units, as well as luxury penthouses. Units feature full-size washers and dryers, large closets, spa-inspired bathrooms, quartz countertops, stainless steel appliances, and oversized windows. Community amenities include a rooftop terrace with barbecue grills, a state-of-the-art fitness center, yoga and wellness studio, pet spa and dog wash station, solarium with seating areas a reading and media center, a residents’ lounge, a working pod, and an old-fashioned arcade.
Located at 1011 Washington Blvd., the property is directly across from Mill River Park, a 26-acre green space, and is close to many restaurants, entertainment venues, and retail stores. The community is an eight-minute walk from Stamford Station, which provides easy travel to downtown Manhattan, and less than half a mile from Interstate 95, which provides convenient access to the county. from Westchester, to Manhattan and the greater New York subway. region.
JLL Capital Markets’ sales and advisory team was led by Senior Managing Director Jose Cruz, Managing Directors Steve Simonelli and Michael Oliver, and Senior Managing Director Kevin O’Hearn.
“Stamford continues to be one of the strongest and busiest markets in the North East. The exceptional quality and location of Vela on the Park has attracted interest from a variety of institutional investors,” said Simonelli.
JLL Capital Markets is a global, full-service provider of capital solutions for property investors and occupiers. The firm’s in-depth knowledge of the local market and global investors provides best-in-class solutions to its clients, whether it is investment and sales advisory, debt advisory, equity advisory or recapitalization . The firm has more than 3,000 capital markets specialists worldwide with offices in nearly 50 countries.
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