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AvalonBay Communities sells Shelton, Conn., apartment property

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AvalonBay Communities sells Shelton, Conn., apartment property

Multifamily real estate investment trust AvalonBay Communities Inc. sold the Avalon Shelton luxury apartment community totaling 250 units in Shelton, Conn.

The buyer was Merion Realty Partners, and CBRE brokered the transaction.