TRUMBULL, Conn. -- Avalon Bay Communities has sold Eaves Trumbull Apartments to Paredim Partners LLC for $70 million.
“We are investing in a well-located, high-quality asset with a unique and irreplaceable setting and property with great upside potential,” said David Parisier, Paredim’s managing director and founding principal. “Value-enhancing renovations are planned under the direction of our experienced redevelopment and management team that has overseen similar projects in our portfolio of more than 2,000 units throughout New Haven, Fairfield and other Connecticut markets."
The 340-unit, 38-acre luxury apartment property has direct access to the Merritt Parkway and Route 8.
“Designed to offer upscale living with a high level of amenities, Eaves Trumbull combines a rolling park-like setting, with an impressive array of amenities, such as the 11,000 square foot clubhouse with pool, indoor basketball and racquet courts, as well as a large variety of spacious apartment floor plans and a highly desirable Trumbull address” Parisier said. “We plan on implementing a renovation and rebranding program that will play upon and accentuate the many positive features of this community and enhance its position as a premier property in the upper Fairfield County market.”