Westport’s Rivers Edge Portfolio sells for $6.35M

The Rivers Edge Portfolio, which consists of two luxury rental apartment buildings and two mixed-use freestanding buildings ”“ all situated along the Saugatuck River in Westport, has been sold for $6.35 million.

The seller, Continental Finance Corp., was represented by Will Suarez, a principal at Avison Young, with support from the Tri-State Investment Sales team led by James Nelson. The buyer was not identified.

“This transaction was a clear win-win for both parties,” said Suarez. “The buyer successfully expanded their footprint in Westport along the desirable Riverside Avenue where they purchased two properties earlier this year, while the seller exited a well-planned and timed redevelopment of the asset.”