TH Real Estate Sells 261-Unit Apartment Community in Connecticut for $67M
The Wescott in Stamford, Conn., features 261 apartments, an indoor/outdoor pool, clubroom with kitchen, fitness center, outdoor courtyard and garage parking.
STAMFORD, CONN. — TH Real Estate, an affiliate of Nuveen, a TIAA company, has completed the sale of The Wescott, an apartment community located in Stamford. A private New Jersey-based investment group acquired the 261-unit property for $67 million. Built in 1986, the property features an indoor/outdoor pool, clubroom with kitchen, media lounge and billiards room, fitness center, tennis courts, basketball court, outdoor courtyard and garage parking. Most units have been renovated with new kitchens, featuring granite counters, stainless steel appliances, and new cabinets, baths, lighting and fixtures. The property also features a 8,500-square-foot vacant commercial space, which was formerly occupied by medical tenants. Jeffrey Dunne, Gene Pride and Eric Apfel of CBRE represented the seller in the deal.