DSF Group Acquires CT Asset
Built in 2004, the 246-unit community is located in Milford and was purchased for $50.5 million. The company plans to renovate and rebrand the property.
By Beata Lorincz
Avalon Milford, Connecticut
The DSF Group has acquired Avalon Milford, a 246-unit multifamily community in Milford, Conn., for $50.5 million from Avalon Bay Communities. CBRE’s Jeffrey Dunne, Gene Pride, Simon Butler and Biria St. John represented the seller.
The property is located at 1 Avalon Drive and, according to public records, it was purchased in 2002 for $8.6 million. The community was built in 2004 and includes 184 one-bedroom and 62 two-bedroom units with open floorplans, gas heat and cooking, walk-in closets and full size in-home washer/dryers.
Rebranding ahead
According to Yardi Matrix, common amenities include:
- fitness center
- business center
- clubhouse
- basketball court
- playground
- swimming pool
- 420 parking spaces
“DSF plans to renovate the common area amenity spaces and to rebrand the asset as Halstead Milford. The demand for luxury apartments in this part of Connecticut remains very high as the location is convenient to major employers in New Haven, Norwalk and Stamford, while also near amenities such as retailers along the Post Road and recreation on Long Island Sound,” said Butler in a prepared statement.
DSF Group purchased the nearly 600,000-square-foot, 433-unit Halstead Danvers community in Massachusetts in 2014, transforming it into a successful example of a multifamily adaptive reuse project.
Image courtesy of Yardi Matrix
