JLL Capital Markets announced that it has closed the sale of Vela on the Park, a 209-unit, luxury, high-rise apartment community in downtown Stamford, Connecticut.
JLL represented the seller, a partnership between an affiliate of Trinity Financial, Inc. and Berkshire Residential Investments. Carmel Partners acquired the asset.
The 19-story Vela on the Park consists of studios, one- and two- bedroom units, along with luxury penthouses. The units feature full-size washers and dryers, spacious closets, spa-inspired bathrooms, quartz countertops, stainless steel appliances and oversized windows. Community amenities include a rooftop deck with barbecue grills, a state-of-the-art fitness center, a yoga and wellness studio, a pet spa and dog wash station, a solarium with reading nooks and a media center, a resident lounge, work pods and an old-school arcade.
Located at 1011 Washington Blvd., the property sits directly across from Mill River Park, a 26-acre green space, and is proximate to numerous restaurants, entertainment venues and retail shops. The community is an eight-minute walk to the Stamford Train Station, which allows an easy commute to mid-town Manhattan, and less than one half mile from Interstate 95, which provides convenient access to Westchester County, Manhattan and the greater New York metro area.
The JLL Capital Markets Sales and Advisory team was led by Senior Managing Director Jose Cruz, Managing Directors Steve Simonelli and Michael Oliver and Senior Managing Director Kevin O’Hearn.
“Stamford continues to be one of the strongest and most active markets in the Northeast. The exceptional quality and location of Vela on the Park drew interest from a variety of institutional investors,” stated Simonelli.
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 and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.