MARCUS & MILLICHAP BROKERS $10.6 MILLION MULTIFAMILY SALE
WATERBURY, CONN. — Marcus & Millichap has completed the sale of River’s Edge Apartment Homes, a 156-unit multifamily community located at 35 Sharon Rd. in Waterbury, for $10.6 million, or $67,949 per unit. The Class A, gated apartment community was constructed in 1974. Situated on 10.51 acres, it comprises seven detached buildings. The units consist of six studios, 67 one-bedroom flats and 83 two-bedroom flats. Units range in size from 400 square feet to 1,220 square feet, and each residence includes a private deck or patio. Steve Witten and Victor Nolletti of Marcus & Millichap’s New Haven, Conn., office represented the buyer, Paredim Acquisition LLC, as well as the seller, ERP Operating Limited Partnership. Acquisition financing was provided by Fannie Mae.