JLL Negotiates Sale of 304-Unit Multifamily Asset in Stamford, Connecticut

STAMFORD, CONN. — JLL has negotiated the sale of AVA Stamford, a 304-unit multifamily property in Stamford, a city on the southwest coast of Connecticut. The property has since been renamed Sofi at 50 Forest. The 18-story tower offers one-, two- and three-bedroom units averaging more than 1,000 square feet, each equipped with laundry appliances and patios or balconies. Amenities include a heated pool, fitness center, clubhouse and a 1.1-acre private park with tennis courts. The property, construction of which was completed in 2001, was 95 percent occupied at the time of sale. Jose Cruz, Stephen Simonelli, Kevin O’Hearn, Andrew Scandalios, Michael Oliver, Mark Mahasky and Grace Braverman of JLL represented the seller, AvalonBay Communities Inc., in the transaction. The buyer was West Coast-based multifamily investor Pacific Urban Residential. The exact sales price was undisclosed.