IPA Facilitates $33M Sale of 99-Unit Apartment Property Located in Shelton, Connecticut

SHELTON, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Avalon Huntington, a 99-unit apartment complex located at 100 Avalon Drive in Shelton. AvalonBay Communities sold the property to Inland Real Estate Acquisitions for $33 million, or $333,333 per unit. Built in 2008, Avalon Huntington features 86 townhome-style units and 67 units with direct-entry garages. Victor Nolletti and Eric Pentore of IPA represented the seller and procured the buyer in the transaction.