TGM Expands in Connecticut

TGM Associates has acquired Avalon on Stamford Harbor, a waterfront property in Stamford, Conn., that includes two mid-rise apartment buildings for an unspecified price.

Stamford, Conn.—TGM Associates has acquired Avalon on Stamford Harbor, a waterfront property in Stamford, Conn., that includes two mid-rise apartment buildings for an unspecified price. The company has renamed the 323-unit property TGM Anchor Point; the seller was AvalonBay.

TGM Anchor Point offers studio and one-, two- and three-bedroom units with an average size of nearly 1,000 square feet. Common amenities include a two-level athletic club, indoor basketball court, indoor racquetball court, cafe lounge, swimming pool, landscaped courtyards and multiple grilling areas. Residents have access to shuttle transportation from the property to Stamford’s main train station.

The 15-acre property also contains a 72-slip marina, which can accommodate boats up to 40 feet in length. Slips are available for year-round and seasonal rental to the general public.

According to TGM, it will renovate the interiors of all of the units, as well as the common amenities. Institutional Property Advisors’ Steve Witten and Victor Nolletti represented TGM in the transaction.

With the addition of TGM Anchor Point, TGM now owns three properties in Connecticut. In addition to TGM Anchor Point, it owns TGM Village at Stamford in Stamford, as well as TGM Waterford Commons in Manchester.