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November 15, 2019 REAL ESTATE ROUNDUP

Orange apartment complex fetches $35 million

Grand Reserve Orange, a 168-unit apartment community at 45-75 Prindle Hill Road, Orange, has been sold for $35 million. The sale closed October 17.

The seller was Fairfield Grand Reserve LLC, while the buyer was Grand Reserve DE, LLC, a private investment firm based in New Jersey and registered in Delaware. The CBRE team of Jeffrey Dunne, Gene Pride, and Eric Apfel along with Simon Butler and Biria St. John represented the owner in the transaction.

Built in 2005, the property was previously known as Avalon Bay. The new owner indicated it will undertake unit renovations to kitchens, baths and flooring as residents in the Connecticut market continue to seek luxury apartments. The units feature open floor plans, gas heat and cooking, walk-in closets, full size in-home washer/dryers and nine-foot ceilings or loft apartments.

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Sundance Drive, Branford

Sundance Partners LLC has purchased eight residential units at the Sundance condominium complex, including 12-15, 18 and 20-22 Sundance Drive, Branford. Kristin Geenty of the Geenty Group, Realtors represented the seller, Mazocchi Associates, while Phil Backus of Backus Real Estate represented the buyer, Sundance Partners LLC, whose principal is Jed Backus of Murray Lane in Guilford. Purchase price was $570,000.

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