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Royce at Trumbull, a 339-unit apartment complex in Trumbull, has sold for $101 million.
The nearly 400,000-square-foot complex on a 30-acre property at 100 Avalon Gates was developed in 1997 by AvalonBay Communities, a multifamily real estate investment trust. Previous owner Paredim Partners renovated about half of the units before selling the property last year for $82 million to Sym Investments and Skywood Properties.
Rosewood Realty Group brokered the transaction and represented both the sellers and the buyer, Colony Hills.
“This sale is a good example that investors’ demand for some suburban multifamily assets remain strong despite rising interest rates,” said Rosewood Realty Group”™s President of National Sales Jonathan Brody.
