Paredim Partners LLC of Elmsford, N.Y., an owner/operator of multifamily properties throughout the Northeast, has acquired the Spinnaker Milford portfolio, a collection of ten boutique apartment complexes with 49,000 square feet of commercial and retail space in downtown Milford.
The seller was Wolff Spinnaker Walk LLC of Scottsdale, Az., whose agent of record is Philip R. DiGennaro Jr. of Fairfield.
Located at 3 Schooner Lane, Milford, the Spinnaker Milford portfolio comprises ten apartment communities developed between 1997 and 2012, all within a half-mile of one another. Four of the properties include a mix of urban retail, restaurant and professional spaces with visibility in central downtown locations.
Purchase price of the deal, which closed earlier this month, was not disclosed.
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1476 Chapel Street, New Haven.
A 19-unit apartment property at 1476 Chapel Street, New Haven has sold for $1.75 million. The property houses nine one-bedroom, four two-bedroom, four three-bedroom, and two four-bedroom apartments. Seller 1476 Chapel Apartments LLC of 54 Ansonia Road, Woodbridge, represented by Bradley Balletto, Rich Edwards and Jeff Wright of the Northeast Private Client Group in Shelton, sold the property to Sherman Chapel Properties LLC at 50 Fitch Street, New Haven. The sale closed October 16 at a capitalization rate of 6.88 percent on the property’s current net operating income.Â