Invictus Picks Up Luxury Connecticut Portfolio
- Feb 02, 2021
Invictus Real Estate Partners has acquired two newly built Class A properties in Norwalk, Conn., from a joint venture of Alex Brown Realty Inc. and Belpointe Cos. Situated a block apart, The Berkeley at Waypointe and Quincy Lofts encompass a combined 198 units. CBRE represented the owner and procured the buyer.
The assets are part of the second phase of the redeveloped Waypointe District in Norwalk, planned to revive the area along West Avenue. The mixed-use community includes luxury living, retail and entertainment facilities. Last August, Invictus also purchased the development’s first phase—dubbed The Waypointe—backed with a $107.2 million Freddie Mac loan. The 464-unit community came online in 2016 and comprises 56,000 square feet of ground-floor commercial space.
The newly traded assets were up for sale since November 2018, according to Westchester & Fairfield Business Journals. In 2019, CBRE also arranged a $53.5 million refinancing loan for the properties.
Built in 2017 at 500 West Ave., the Berkeley offers 129 one- and two-bedroom units, as well as 10,331 square feet of retail. The five-story building is organized around a 371-space parking garage. Amenities include a clubroom, fitness center and rooftop deck.
Completed in 2016, The Quincy rises five stories at 30 Orchard St. and holds 69 one- and two-bedroom apartments, as well as 87 ground-level parking spaces. The community offers a resident lounge and outdoor patio with grills and fire pits.
The CBRE team brokering the deal included Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin and Eric Apfel.