Prominent developers sell 300-unit Bridgeport apartment complex for $107.5M
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215 Alfred St., Bridgeport.
A 300-unit multifamily property in Bridgeport, built by two prominent development companies, has been sold for $107.5 million.
The Canfield Park at Fairfield Metro is a two-building, 332,000-square-foot complex at 215 Alfred St. It was built and sold by Norwalk-based Spinnaker Real Estate Partners and development firm Eastpointe of Fairfield, as Canfield Partners LLC.
New York-based Canfield Owner LLC bought the property in a deal recorded Oct. 21, according to city records.
IPA Capital Markets, a division of Marcus & Millichap, said it secured $110 million in joint venture equity and financing for the purchaser’s acquisition of Canfield Park.
The multiphase project included the first smaller building containing 69 units, built in 2021. Residents started moving in around 2022-23. The larger building was completed in 2023.
The complex had an occupancy rate of 96% to 97% at the time of the sale, Eastpointe representatives said.
The complex features a mix of one-, two-, and three-bedroom market-rate apartments with amenities including a pool, fitness center, community room, meeting space and a music “jam room.”
Canfield Park is located in the Black Rock section of Bridgeport, adjacent to the Fairfield Metro train station, and close to local shops and dining.
Adirondack Capital Partners Managing Partner Michael Hunter Coghill represented both the seller and buyer in the deal. He said the sale “showcases the continued demand for high-quality, modern residential communities in the region.”
The site for Canfield Park was the former home of a movie theater that was demolished.
Eastpointe was the developer on The Preserve at Great Pond in Windsor with 230 units, and the 168-unit Eastpointe at Dorset Crossing in Simsbury. Eastpointe is currently building 300 residential units, known as Riverpointe, at the mixed-use Stonebridge Crossing development in Cheshire.
Spinnaker is the developer of the Audubon multifamily complex and parts of the massive Square 10 mixed-use project at the site of the former coliseum, both in New Haven.
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