Paredim Partners Purchases Portfolio 10 Prime Downtown Milford

Paredim Partners LLC, a premier owner operator of multifamily properties in the Northeastern United States, is pleased to announce the acquisition of The Spinnaker Milford Portfolio, a unique collection of 10 boutique apartment communities with 49,000 square feet of prime Downtown commercial and retail space excellently located in the heart of Milford, CT.

The Portfolio is beautifully integrated into the Downtown Milford landscape, providing spectacular access and views of the picturesque and renowned Milford Harbor as well as excellent walkability to the vibrant Downtown Milford retail core and to Milford’s Metro-North train station.

Milford is renowned as the premier coastal town in New Haven County, CT, boasts a un paralleled mix of cultural, recreational, educational and employment opportunities, making the city a preferred destination of highly educated and affluent urban professionals. This exciting and convenient lifestyle has translated to the National Association of REALTORS ranking Milford-New Haven among the top two destinations in the United States for millennials on the move.

“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 David Parisier, Managing Director of Paredim. “We plan to continue to position the portfolio as the premier boutique residential communities in the area and to enhance its aesthetics and amenity offerings via targeted unit and amenity upgrades.”

The Spinnaker Milford portfolio comprises 10 apartment communities developed between 1997 and 2012 all within ½ mile of each other, feature a highly attractive contemporary New England style with a strong amenity offering. Four of the properties include a desirable mix of urban retail, restaurant and professional spaces with excellent visibility in highly central downtown locations. 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. In addition to the built-in local employment base, the prime downtown Milford location draws renters from nearby New Haven, with Yale University, Yale New Haven Hospital and the newly emerging biotech employers that have resulted in the area being, ranked the 13th best city for biotech venture funding in the country.