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A large Stamford apartment complex has sold to a New Jersey partnership.

Lakewood, New Jersey-based Hoyt Bedford LP bought the Hoyt Bedford complex from Freeport, New York-based Stamford Apartment Co. LLC for $99 million, according to public records.

The property, built in 1940, has 350 market-rate apartments split among five buildings on seven acres on Hoyt Street just north of downtown Stamford. Amenities at the Georgian-style complex include covered parking. Average unit size is 927 square feet.

Institutional Property Advisors, a division of Marcus & Millichap, brokered the sale. IPA Executive Managing Director Victor Nolletti, Eric Pentore and Wes Klockner, represented the seller. The trio procured the buyer along with Marcus & Millichap’s Andrew Daitch.

“Hoyt Bedford is a 100% market-rate, legacy asset located on the edge of Stamford’s central business district,” Nolletti said in a statement. “Just a short walk from Bedford Street Restaurant Row, Columbus Park and all that Stamford has to offer, the property is a well-maintained apartment home community and an outstanding value-add opportunity.”