Silverman Group Acquires North Haven Multifamily

NORTH HAVEN, CT—The Silverman Group of Short Hills, NJ has purchased the Ardenwood Apartments complex here for $26 million.

The sale of the 128-unit rental housing development was announced by CBRE Group Inc. Jeffrey Dunne, Gene Pride and Patrick Carino of CBRE's Institutional Properties team represented the seller Bouwfonds Preston's Crossing LP, a European investment management advisory firm in the transaction that has a relationship with Fairfield Residential.

The property, located at 100 Avalon Haven Drive adjacent to the Quinnipiac River y features such amenities as a pool with sundeck, fitness center, enclosed garages, dog park and barbeque grills.

CBRE's Dunne says of the sales deal, “Ardenwood Apartments is great asset in a quaint setting that appeals to residents looking for a proximate location to New Haven and Hartford, but in a quiet, highly amenitized, suburban location. The original historic homestead is incorporated as the leasing office that adds to the property's character and blends seamlessly with the modern conveniences of a fitness center, swimming pool and garages that appeal to renters today”

He adds, “Fairfield Residential did an exceptional job maintaining strong occupancy with high quality tenants during their ownership. This is a key acquisition for The Silverman Group as they expand their multifamily portfolio in Connecticut.”