Bridgeport-based company shells out $35M for two multifamily buildings in Stamford

As seen in The Real Deal

Navarino Acquisitions LLC has snapped up two multifamily buildings in Stamford, the Fairfield County Business Journal reported. The Bridgeport-based company purchased The Moderne Apartments and The Verano Apartments for $35 million from Shelton-based Northeast Private Client Group, according to the outlet. The two buildings house 58 luxury apartments each. “The relative value to renters by choice at these newer-construction assets puts them in the unique position to sustain rent growth in the face of significant new deliveries to the Stamford luxury rental market,” Bradley Balletto, the vice president of investments at Northeast, said.

Northeast Private Client Group is the fastest growing mid-market investment sales firm in the Northeast, providing unmatched results by combining specialized market intelligence with a relationship-based marketing strategy that caters to each client’s needs. The firm’s collaborative and research-driven solutions are tailored to meet the individual needs of investors across the Northeast who are looking to buy, sell or exchange mid-market properties including mixed-use, multifamily, retail and office assets. Northeast Private Client Group’s highly disciplined process is just one of the many reasons the firm has earned CoStar’s Power Broker designation year after year, and been ranked on the Inc5000 list of America’s fastest-growing private companies. To learn more, visit: www.northeastpcg.com.