JLL Capital Markets announced that it has handled the $73 million sale of Harbor Landing, a 218-unit, ultra-luxury apartment community located in Stamford, Connecticut.
JLL exclusively represented the seller, a joint venture between Building and Land Technology and Lubert Adler Real Estate Funds, and procured the buyer, Monday Properties and Neo Capital.
Harbor Landing is a Class A apartment community completed in 2018 and consisting of studio, one- and two-bedroom floorplan options with high-end finishes. The apartments also feature resort-style amenities, including a pool, club room, fitness center and expansive outdoor sundeck with firepits and grills.
The property has breathtaking views of Harbor Point and the Long Island Sound. Harbor Landing is part of a greater mixed-use community comprising of a 14-acre stretch of land that offers two restaurants, a waterfront boardwalk, marinas with slips for yachts and boats and four office buildings, which include 66,314 square feet of newly redeveloped lab space.
The JLL Capital Markets team representing the seller was led by Jose Cruz, Steve Simonelli, Michael Oliver, Kevin O’Hearn and Ryan Robertson. JLL’s Michael Gigliotti and Peter Rotchford also secured the loan which was assumed by the buyer.
“Stamford continues to attract capital from across the region. We are proud to bring first time investors to Stamford who understand the future upside in the market,” stated Cruz.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.