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FPA Multifamily enters Connecticut market with $84M buy

CBRE announced today the $84.3 million sale of The Fairfield Apartments, a 263-home community located in Stamford, CT.

The CBRE team of Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin and Travis Langer represented the institutional seller, while also procuring the buyer, FPA Multifamily.

Built in 1996, all apartments have original finishes. The community features a clubroom with a fireplace, caterer’s kitchen, three private courtyards, including one with a pool and sundeck, grilling areas and full fitness center.

Commented Pride, “This is FPA’s first purchase in Connecticut and we are anxious to see how they renovate the community. The property has great bones and with new finishes, the community should perform very well going forward.”

Last summer, San Francisco-based FPA Multifamily announced it had raised $970 million for a new apartment fund targeted at top tier markets across the country.

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