The transaction marks the second time this week that AvalonBay Communities has sold one of its Fairfield County apartment complexes. The earlier sale involved the Avalon Wilton on Danbury Road, a Wilton-based development that sold for $34.75 million.
The Avalon Stratford was built in 2014 and includes a fitness center, heated pool, playground and barbecue grills. The complex is being rebranded as the Merion Stratford.
CBRE represented AvalonBay Communities and procured the buyer in the sale.