Harbor Landing luxury apartments bought for $73M
JLL Capital Markets handled the sale of the property positioned in waterfront community
MORRISTOWN, N.J., April 8, 2021 – JLL Capital Markets announced today 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.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.