Bridgeport-based company shells out $35M for two multifamily buildings in Stamford

Navarino Acquisitions LLC has snapped up two multifamily buildings in Stamford, the Fairfield County Business Journal reported. The Bridgeport-based company purchased The Moderne Apartments and The Verano Apartments for $35 million from Shelton-based Northeast Private Client Group, according to the outlet. The two buildings house 58 luxury apartments each. “The relative value to renters by choice at these newer-construction assets puts them in the unique position to sustain rent growth in the face of significant new deliveries to the Stamford luxury rental market,” the vice president of investments at Northeast said. [FBJ]