IPA Negotiates $70.2M Sale of Multifamily Property on Connecticut’s Gold Coast

TRUMBELL, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of eaves Trumbull, a gated multifamily community located at 100 Avalon Gates in Trumbull. Elmsford, N.Y.-based Paredim Partners acquired the 340-unit property from Gates Financing LLC for $70.2 million, or more than $206,000 per unit. The property features a mix of one-, two- and three-bedroom apartments in nine floor plans. Community amenities include a heated outdoor swimming pool, indoor and outdoor basketball courts and a racquet court, as well as private garages and covered parking. Victor Nolletti, Steve Witten, Still Hunter, Adam Mancinone and Blake Barbarisi of IPA represented the seller, while Nolletti and Witten procured the buyer in the transaction.