Royce At Trumbull Multifamily Investment Offering Now Open For Pledging On RealtyMogul

The Royce at Trumbull offering on the RealtyMogul investment platform is now open for pledging. 

The Royce at Trumbull is an 11-building, 340-unit complex featuring resort-style amenities for its residents. The amenities include a private pool, grilling and patio area, recreation building, fitness center and a basketball court. 

Located 25 miles outside of Stamford and 65 miles from New York City, the multifamily complex is in an affluent area with an average household income of over $150,000. The complex is ideally located near top-rated retail, schools, employment and recreation. The county features 19 Fortune 1000 corporations and, according to Forbes, Fairfield County ranks No. 8 nationally in education.

The property was purchased off-market for $101.1 million, which at $297,000 a unit is well below comparables within the county. This discounted purchase price allows for new owner Colony Hills Capital to offer significant value-add potential to investors.

The property’s seller renovated 30 units in the complex, and Colony Hills Capital plans to renovate 91% of the units. These renovations will allow for an increase in rent by an average of $464 per unit. Even with the increase in rent, The Royce at Trumbull will offer more amenities and living space than its competitors once renovations are completed. 

• Minimum investment: $35,000
• Target internal rate of return (IRR): 21.2%
• Target equity multiple: 2.48x
• Target cash yield: 7.5%
• Target investment term: five years

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Colony Hills Capital is a private real estate investment firm that specializes in value-add multifamily housing. The firm focuses on underperforming, mismanaged and undervalued class A- through B- multifamily assets in growing markets. Since the firm’s inception in 2008, it has handled over $1 billion in total transactions, including over 11,200 apartments and 35 multifamily properties. Colony Hills Capital has over $500 million in assets under management.

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