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“Demand remains strong for mid-market apartment properties in lower Fairfield County” notes Jordan. “And Greenwich in particular, given its historically high occupancy, strong rents and its generally robust economic base, boasts an intrinsic value which many investors find desirable.” The seller, a local Greenwich family, had acquired the various portfolio properties over a number of years. Greenwich Riverview LLC, a New York-based buyer, purchased the seven-building multifamily portfolio for a price that equates to $190,000 per unit, which represents a capitalization rate of approximately six per cent on the current year’s net operating income. “We were able to identify and source this well-qualified buyer through our White Plains, NY office, which was instrumental in selling this prized asset at a highly competitive price,” explains Jordan. “Going into 2013, investment sales activity continues to build. Our ability to create multi-state competition for well-positioned assets will continue to benefit our clients in the New Year.” © Copyright by NorwalkPlus.com. Some articles and pictures posted on our website, as indicated by their bylines, were submitted as press releases and do not necessarily reflect the position and opinion of NorwalkPlus.com, Norwalk Plus magazine, Canaiden LLC or any of its associated entities. Articles may have been edited for brevity and grammar. Note: We reserve the right to delete posts at any time if we decide that they are offensive or distasteful. CURRENT HEADLINES: Top of Page |
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