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Sym Investments Acquires Multifamily Property In Trumbull, CT For $82M

Property Image
SOLD
$82,000,000
David Gavin
Gene Pride
+ 2

Connecticut

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MultiFamily389,047 SF
Sold 03/10/2021
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Property Image
SOLD

Sym Investments Acquires Multifamily Property In Trumbull, CT For $82M

100 Avalon Gates

See Similar Deals
MultiFamily389,047 SF
Sold 03/10/2021
David Gavin
Gene Pride
+ 2
Contact now

Summary

CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$210
Total Square Footage:389,047 SF
Transaction Type:Sale

Located at 100 Avalon Gates in Trumbull, CT, this multifamily property has recently changed hands in a closed transaction. The property is comprised of 340 units and was sold for a total price of $82,000,000, resulting in a per unit price of $241,176.

Summary of transation details

The sale of this property was facilitated by the brokers Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin, and Stuart MacKenzie from CBRE. The buyer, Sym Investments, acquired the property from sellers Paredim Partners and LEM Capital.

Players

Gene Pride
22 deals$1.6B volume
BROKER

Jeremy Neuer
JLL
45 deals$1.9B volume
BROKER

Steven Bardsley
CBRE
47 deals$1.9B volume
BROKER

David Gavin
CBRE
45 deals$2B volume
BROKER

Stuart MacKenzie
CBRE
25 deals$1.6B volume
BROKER

BUYER


Details

SOLD
IMAGE: Gene Pride, Steve Bardsley, Jeremy Neuer, David Gavin, & Stuart MacKenzie DATE: 03/10/2021 ADDRESS: 100 Avalon Gates MARKET: Trumbull, CT ASSET TYPE: Multifamily SELLER: Paredim Partners & LEM Capital BUYER: Sym Investments BROKERS: Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin, & Stuart MacKenzie - CBRE SALE PRICE: $82,000,000 UNITS: 340 ~ PPU: $241,176

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$4,373,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$291,328.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$388,721.83
Annual Debt Service$4,664,662.01