JV BUYS MULTIFAMILY PROPERTY FOR $121M IN STAMFORD, CONN.
STAMFORD, CONN. — A joint venture between Clal Insurance and Chicago-based Waterton Associates has acquired 75 Tresser, a multifamily apartment community located in downtown Stamford, for $121 million. The property offers 344 units, ranging from studio to three-bedroom layouts; 5,500 square feet of retail space with a two-story parking lot; a 9,000-square-foot resident’s lounge; a 5,000-square-foot fitness center; pool; two courtyards; a private screening room; meeting/dining rooms; a catering kitchen; and business center. The residential units feature designer kitchens with stainless steel appliances, elevated nine-foot ceilings, wood-style floors, in-unit washer/dryer and panoramic windows. Waterton will retain a 51 percent stake in the property, while Clal will own the remaining 49 percent.