1.8x multiple and 43% irr.
Fairfield County is one of the most affluent areas in the nation where nearly half of all residents over the age of 25 hold a bachelors degree or higher. Trumbull offers one of the top public schools in Connecticut making it a desirable option for young families. The Royce at Trumbull is less than 90 minutes from Grand Central and only 35 minutes from Stamford.
The building is a class A asset that offers newly remodeled amenities. The clubhouse has a two-level fitness center including a Fitness on Demand Cardio/Yoga Studio. The outdoor swimming pool has been remodeled to rival a 5-star hotel décor. The clubhouse features an indoor basketball court and onsite management. There is covered and garage parking. The building has beautiful outdoor lounge and barbeque areas. On the premises is a private children’s park equipped with a state-of-the-art jungle gym. The apartments are larger than any A-class building in the vicinity and offer gas cooking, built-in microwaves, dishwasher, walk-in closets, washer/dryer, central AC, and private patios or balconies. This Connecticut gem presents a rare value-add asset with proven results and currently performs within the core asset class.