12/29/2008

Connecticut gated community fetches $10.6M

by
River Owner, LLC, has acquired the River's Edge Apartment Homes in Waterbury, Conn., for $10.6 million from ERP Operating, LP.

Steve Witten and Victor Nolleti of Marcus & Millichap's New Haven office represented both parties in the deal.

The apartments are located at 35 Sharon Road and sold for $68,000 per unit. Built in 1974, the property contains 156 units on 10.51 acres. It is a 134,904-square-foot gated community and was financed by Fannie Mae through PNC ARCS, a Fannie Mae DUS lender.

Address: 35 Sharon Road, Waterbury, Conn.

Size: 156 units

Built: 1974

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Filed Under: Multi-Family

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