New York company purchases batch of downtown Milford properties
A trove of Downtown Milford properties have switched owners following a recent purchase by New York-based investors.
Paredim Partners LLC announced Wednesday that it acquired The Spinnaker’s Milford portfolio in the heart of the city for an unspecified price.
The list of properties consists of 10 apartment buildings built between 1997 and 2012. Four of the complexes include a mix of urban retail, restaurant and professional space across 49,000 square feet.
“The portfolio caters primarily to an affluent cross section of young professionals, couples, families, empty nesters that are attracted by the excellent downtown location as well as proximity to numerous major employers including Sikorsky Aircraft, BIC, Subway Corporation, Schick and numerous regional law firms,” read a press release from Paredim.
Most of the portfolio sits in the heart of downtown Milford, providing views of the Harbor and access to nearby retail and dining. Properties are also central to Milford’s Metro-North train station.
The New York company said it plans to maintain the portfolio as premier boutique residential communities while improving amenities and aesthetics. Paredim already has an extensive presence in Connecticut with multi-family apartment buildings throughout Fairfield and New Haven counties.
“We are very pleased to add this excellent collection of boutique properties to Paredim’s portfolio of market-leading apartment communities and were attracted by the outstanding downtown Milford locations in the middle of one of the New Haven area’s most vibrant neighborhoods” said Paredim Managing Director, David Parisier in a press release.