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Residential

CBRE Arranges Sale of 246-Unit Halstead Milford

Today, representatives of CBRE led by Simon Butler, Biria St. John, Jeff Dunne, John
McLaughlin, Eric Apfel, Stuart MacKenzie, and Brian Bowler announced the sale of Halstead Milford, a 246-unit multifamily community in Milford, Connecticut.

CBRE represented the seller, an affiliate of The DSF Group, a Boston and Washington, DC-based real estate investment firm. The team also procured the buyer, Merion Realty Partners, a real estate investment group based in Wynnewood, Pennsylvania.

Built in 2004 by AvalonBay, Halstead Milford is a three-story, garden-style residential community that underwent significant improvements to its amenity spaces under DSF’s ownership. Property amenities include an outdoor pool, newly appointed resident clubhouse with a fitness center, yoga room, coworking space, game room, fireside lounge area, leasing office and model unit. The community also features the outdoor Halstead Town Center—a landscaped community space with a bocce ball court, shuffleboard, and outdoor grilling and dining space.

“The sale of Halstead Milford represents another successful execution of our value-add strategy,” stated Josh Solomon, President of The DSF Group.

CBRE’s Simon Butler said, “We are pleased to have represented DSF in the sale of Halstead Milford. Their attention to detail with their well-honed amenity renovations and their superior operating acumen has delivered an exceptional platform for the buyer, Merion, to realize further upside potential by renovating apartments.”

CBRE’s Jeff Dunne added, “There was significant interest in the offering due to its Milford location in coastal New Haven County and the opportunity to enhance value by upgrading apartments to contemporary resident tastes. Residents benefit from access to coveted employment sectors of health care, higher education and biotechnology which drives a robust employment sector. The buyer will benefit greatly from steady cashflow and high occupancy rates due to the strong demand for rental product in Milford and the New Haven region.”

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